---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-127630"
form_type: "8-K"
ticker: "OPIRQ"
cik: "0001456772"
company_name: "OFFICE PROPERTIES INCOME TRUST"
filed_at: "2024-12-11T23:59:59+00:00"
generated_at: "2026-05-29T04:40:48.976497+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# OPI closes exchange of $340M 2025 notes for $445M new 3.25% secured notes due 2027 and 11.5M common shares

## Summary
- Exchanged $340M of 4.50% senior unsecured notes due 2025 for $445M of new 3.25% secured notes due 2027, 11.5M common shares, and $25M premiums.
- Remaining $113.1M of 2025 notes to be repurchased or repaid before Feb 1, 2025 maturity.
- New notes require quarterly amortization of $6.5M and mandatory $125M principal repayment by March 1, 2026.
- New notes secured by first-priority liens on 35 properties (GBV ~$1.3B) and second-priority liens on 19 properties (GBV ~$717M).
- Issued 11.5M common shares, representing 19.9% of outstanding shares as of Nov 24, 2024.

## SEC filing metadata
- accession: 0001104659-24-127630
- form_type: 8-K
- ticker: OPIRQ
- cik: 0001456772
- company_name: OFFICE PROPERTIES INCOME TRUST
- filed_at: 2024-12-11T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1456772/000110465924127630/0001104659-24-127630-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1456772/000110465924127630/tm2430635d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-127630
- JSON: https://secwatch.observer/filing/0001104659-24-127630.json
- Plain text: https://secwatch.observer/filing/0001104659-24-127630.txt

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