debt
confidence high
sentiment neutral
materiality 0.60
OPI amends exchange offer for $610M of 9% secured notes; waives min tender conditions, extends deadline to June 4
OFFICE PROPERTIES INCOME TRUST
- Maximum aggregate principal amount of new 9% Senior Secured Notes due 2029 is $610 million.
- OPI waived minimum tender conditions and extended expiration to 5:00 p.m. NY time on June 4, 2024.
- Updated exchange consideration per $1,000: Existing 2031: $515, 2027: $610, 2026: $720, 2025: $938.
- As of May 17, $399M in aggregate principal amount of Existing Notes tendered from all four series.
- Condition requiring at least $97.5M of 2025 notes tendered was waived.