other material
confidence high
sentiment negative
materiality 0.90
OPI reaches amended settlement with 2027 noteholders; $385M note at 8.375%
OFFICE PROPERTIES INCOME TRUST
- Amended settlement includes $385M secured promissory note at 8.375% interest, issued by a new SPV.
- Reorganized company provides $60M limited guaranty; $10M support fee paid upfront.
- 2027 noteholders accept $493.15M appraised value of collateral; effective date on/before Aug 1, 2026.
- Monthly operating report filed for Feb 2026; company continues as debtor-in-possession.
- Plan provides for cancellation of common shares with no recovery to equity holders.