Office Properties plans $25-par notes due 2050 via six bookrunners

By Devika Patel

Knoxville, Tenn., June 16 – Office Properties Income Trust intends to sell $25-par fixed-rate senior notes due 2050, according to a 424B5 filing with the Securities and Exchange Commission.

The notes are callable at par after five years.

BofA Securities Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets Corp., UBS Securities LLC and Wells Fargo Securities LLC are the bookrunners.

The notes will pay interest every March 1, June 1, Sept. 1 and Dec. 1.

The company plans to list the notes on the Nasdaq under the symbol “OPINL.”

Proceeds will be used to repay borrowings under the company’s revolving credit facility and for general business purposes.

The real estate investment trust is based in Newton, Mass.

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