2023-09-08 04:56:53 ET
Corporate Office Properties Trust ( NYSE: OFC ) operating partnership, Corporate Office Properties, L.P. priced offering of $300M aggregate principal amount of its 5.25% exchangeable senior notes due 2028 in a private placement to qualified institutional buyers.
The initial purchasers have an option to purchase up to an additional $45M aggregate principal amount of notes.
The sale of the notes to the initial purchasers is expected to settle on September 12, 2023 and is expected to result in $292.5M in net proceeds.
Net proceeds will be deployed for general corporate purposes, including the redemption or repayment of indebtedness and the pre-funding of future development investment. Pending may be invested in short-term, investment grade, interest-bearing securities, certificates of deposit or indirect or guaranteed obligations of the US.
For further details see:
Corporate Office Properties Trust prices $300M exchangeable notes