debt
confidence high
sentiment neutral
materiality 0.65
OPI launches exchange offers for up to $175M of existing notes; new 8% notes due 2030
OFFICE PROPERTIES INCOME TRUST
- Exchange offers for 2.65% notes due 2026, 2.40% notes due 2027, and 3.45% notes due 2031.
- New 8.000% senior priority guaranteed unsecured notes due 2030; up to $175M aggregate principal.
- Minimum condition: at least $105M of 2026 notes must be validly tendered.
- Early exchange consideration: $890/$563/$761 per $1,000 principal for 2026/2031/2027 notes.
- Offers expire March 10, 2025; early delivery deadline is February 21, 2025 at 5:00 p.m. NY time.