---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-110406"
form_type: "8-K"
ticker: "OPIRQ"
cik: "0001456772"
company_name: "OFFICE PROPERTIES INCOME TRUST"
filed_at: "2024-10-22T23:59:59+00:00"
generated_at: "2026-05-30T11:35:25.453339+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# OPI discloses $455M secured note exchange proposal with ad hoc debt holder group

## Summary
- Ad Hoc Group proposes exchanging ~$460M of 4.500% 2025 Notes for 19.9% equity, $75M cash, and $455M Senior Secured Notes due 2027.
- Secured Notes carry 3.25% coupon at 84.615% issue price, yielding ~14% annually; mature Dec 31, 2026, extendable to June 30, 2027.
- Mandatory redemptions: $175M on March 1, 2026, plus quarterly $6.5M redemptions starting Q1 2025; proceeds from collateral sales must redeem notes.
- OPI continues negotiations with other AHG members; no agreement reached as of Oct 22, 2024; one member declined to extend confidentiality deadline.
- Transaction subject to minimum 90% participation; AHG receives $10M cash fee for committing to support the exchange.

## SEC filing metadata
- accession: 0001104659-24-110406
- form_type: 8-K
- ticker: OPIRQ
- cik: 0001456772
- company_name: OFFICE PROPERTIES INCOME TRUST
- filed_at: 2024-10-22T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1456772/000110465924110406/0001104659-24-110406-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1456772/000110465924110406/tm2426169d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-110406
- JSON: https://secwatch.observer/filing/0001104659-24-110406.json
- Plain text: https://secwatch.observer/filing/0001104659-24-110406.txt

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