---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-099292"
form_type: "8-K"
ticker: "CDP"
cik: "0000860546"
company_name: "COPT DEFENSE PROPERTIES"
filed_at: "2023-09-08T23:59:59+00:00"
generated_at: "2026-06-10T22:25:40.402513+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# COPT prices $300M of 5.25% Exchangeable Senior Notes due 2028

## Summary
- Operating partnership priced $300M aggregate principal of 5.25% notes maturing Sept 15, 2028; initial purchasers get $45M option.
- Net proceeds ~$292.5M after underwriting discount; expected close Sept 12, 2023.
- Initial exchange rate 33.3739 shares per $1,000 principal (premium ~22.5% over $24.46 closing price).
- Proceeds for general corporate purposes, including debt repayment and pre-funding development.
- Credit agreement amended to exclude conversion events related to the notes from Events of Default.

## SEC filing metadata
- accession: 0001104659-23-099292
- form_type: 8-K
- ticker: CDP
- cik: 0000860546
- company_name: COPT DEFENSE PROPERTIES
- filed_at: 2023-09-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/860546/000110465923099292/0001104659-23-099292-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/860546/000110465923099292/tm2325752d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-099292
- JSON: https://secwatch.observer/filing/0001104659-23-099292.json
- Plain text: https://secwatch.observer/filing/0001104659-23-099292.txt

## Key facts
- Material Agreements
  COPT DEFENSE PROPERTIES amended Credit Agreement with KeyBank National Association (effective 2023-09-06).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: KeyBank National Association
  - Effective: 2023-09-06
  source text: On September 6, 2023, in connection with the Offering (as defined below), Corporate Office Properties Trust (the “Company”), and its operating partnership, Corporate Office Properties, L.P. (the “Operating Partnership”), entered into an amendment (the “Amendment”) to the Credit Agreement, dated as of October 26, 2022, by and among the Operating Partnership, as borrower, the Company, as parent guarantor, the lenders party thereto, and KeyBank National Association, as administrative agent, together with the various other financial institutions named therein (the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/860546/000110465923099292/0001104659-23-099292-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.