Corporate Office Properties begins tender offer for exchangeables

By Angela McDaniels

Tacoma, Wash., May 29 - Corporate Office Properties Trust's operating partnership, Corporate Office Properties, LP, began a tender offer for any and all of its $186,273,000 outstanding principal amount of 4.25% exchangeable senior notes due 2030, according to a company news release.

The price on offer is $1,070 per $1,000 principal amount of notes plus accrued interest up to but excluding the payment date.

The tender offer will expire at 11:59 p.m. ET on June 26.

The tender offer will be funded by a combination of available cash on hand and borrowings under existing credit facilities if required.

The dealer manager is RBC Capital Markets (877 381-2099). The information agent is D.F. King & Co., Inc. (800 659-5550 or 212 269-5550).

Corporate Office Properties is an office real estate investment trust based in Columbia, Md., that focuses on U.S. government agencies and defense contractors.

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