Kilroy Realty prices $450M 2.650% senior notes due 2033; to redeem $300M 3.800% notes due 2023

KILROY REALTY CORP

Issued $450M aggregate principal of 2.650% Senior Notes due 2033 at 99.957% of par; net proceeds ~$445.8M.
Proceeds will redeem all $300M outstanding 3.800% Senior Notes due 2023 on October 25, 2021.
Expects ~$13.8M loss from early extinguishment of debt in Q4 2021, not included in prior guidance.
Offering expected to close October 7, 2021; notes fully guaranteed by Kilroy Realty Corporation.
May allocate net proceeds to Eligible Green Projects, including Kilroy Oyster Point (Phase 1) in South San Francisco.

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