Boston Properties bought back $132.8 million 2.875% exchangeables

By Jennifer Chiou

New York, July 27 - Boston Properties, Inc. announced in its second-quarter report that its operating partnership repurchased $132.8 million of its 2.875% exchangeable senior notes due 2037 during the period ended June 30.

The company paid about $132.5 million for the notes, which had an aggregate carrying value of $126.4 million, resulting in the recognition of a non-cash loss on extinguishment of $6.1 million.

The notes are putable in February 2012.

The Boston real estate investment trust for office properties purchased $53.6 million of the notes for $53 million during the prior quarter ended March 31.

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