OFC - Corporate Office Properties prices offering of $400M of senior notes

Corporate Office Properties Trust's (NYSE:OFC) operating partnership Corporate Office Properties, L.P. has priced an underwritten public offering of $400M of 2.900% Senior Notes due 2033. The company will fully and unconditionally guarantee the partnership's obligations under the 2033 Notes. Net proceeds from the offering will be used by Corporate Office Properties, L.P.  to redeem its 5.00% Senior Notes due 2025. Proceeds may also be used for general corporate purposes, including, without limitation, paying off a mortgage loan with an outstanding balance of ~$49.5M, and paying down amounts outstanding on the Operating Partnership's revolving credit facility. Offering is expected to close on November 17, 2021.

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Corporate Office Properties prices offering of $400M of senior notes