secwatch.observer — SEC 8-K summary
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Issuer:     OFFICE PROPERTIES INCOME TRUST (OPIRQ)
CIK:        0001456772
Form:       8-K
Filed at:   2026-09-24T20:23:17+00:00
Accession:  0001104659-26-110419
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Office Properties Income Trust issues $425M 8.75% senior secured notes due 2031, repays credit facilities
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- Issued $425.0M aggregate principal of 8.75% senior secured notes due Oct 1, 2031; interest semi-annual from Apr 1, 2027.
- Proceeds plus cash on hand repaid $425.0M outstanding under secured revolver ($325M) and term loan ($100M), terminating the Jan 29, 2024 Credit Agreement.
- Notes secured by first-priority liens on 19 office properties and 100% equity of subsidiary guarantors; senior to existing 10.000% notes on collateral.
- Redemption: make-whole before Oct 1, 2028; then 104.375% (2028), 102.188% (2029), 100% (2030); up to 40% at 108.75% from equity proceeds before 2029.
- Change-of-control put at 101%; covenants include total unencumbered asset ratio and limits on additional debt and liens.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1456772/000110465926110419/0001104659-26-110419-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1456772/000110465926110419/tm2626041d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-110419

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