---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-190290"
form_type: "8-K"
ticker: "PDM"
cik: "0001042776"
company_name: "Piedmont Realty Trust, Inc."
filed_at: "2023-07-20T23:59:59+00:00"
generated_at: "2026-06-13T05:21:39.871870+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Piedmont issues $400M 9.250% notes due 2028; proceeds for tender of 4.45% notes

## Summary
- Issued $400M aggregate principal of 9.250% Senior Notes due July 20, 2028, with semi-annual interest.
- Net proceeds, with cash on hand, to fund purchase of all outstanding 4.45% senior notes due 2024 via tender offer.
- If tender not consummated fully, remaining proceeds to repay 2022 line of credit borrowings or general corporate purposes.
- Notes are fully and unconditionally guaranteed by Piedmont Office Realty Trust, Inc.
- Indenture includes covenants limiting secured/unsecured debt and requiring unencumbered assets ≥150% of unsecured debt.

## SEC filing metadata
- accession: 0001193125-23-190290
- form_type: 8-K
- ticker: PDM
- cik: 0001042776
- company_name: Piedmont Realty Trust, Inc.
- filed_at: 2023-07-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1042776/000119312523190290/0001193125-23-190290-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1042776/000119312523190290/d518718d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-190290
- JSON: https://secwatch.observer/filing/0001193125-23-190290.json
- Plain text: https://secwatch.observer/filing/0001193125-23-190290.txt

## Key facts
- Debt Financings
  Piedmont Realty Trust, Inc. incurred senior notes of $400,000,000 with U.S. Bank Trust Company, National Association at 9.250% per year maturing July 20, 2028.
  - Instrument: senior notes
  - Principal: $400,000,000
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 9.250% per year
  - Maturity: July 20, 2028
  - Event: incurrence
  source text: On July 20, 2023, Piedmont Operating Partnership, LP (the “Operating Partnership”), the operating partnership and wholly owned subsidiary of Piedmont Office Realty Trust, Inc. (the “Company”), issued $400,000,000 in aggregate principal amount of 9.250% Senior Notes due 2028 (the “Notes”), which mature on July 20, 2028, pursuant to an indenture, dated as of March 6, 2014 (as amended and supplemented by a supplemental indenture (the “Supplemental Indenture”), dated as of July 20, 2023, the “Indenture”), by and among the Operating Partnership, the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1042776/000119312523190290/0001193125-23-190290-index.htm
- Material Agreements
  Piedmont Realty Trust, Inc. entered into Supplemental Indenture with U.S. Bank Trust Company, National Association valued at $400,000,000 (effective 2023-07-20).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $400,000,000
  - Effective: 2023-07-20
  source text: On July 20, 2023, Piedmont Operating Partnership, LP (the “Operating Partnership”), the operating partnership and wholly owned subsidiary of Piedmont Office Realty Trust, Inc. (the “Company”), issued $400,000,000 in aggregate principal amount of 9.250% Senior Notes due 2028 (the “Notes”), which mature on July 20, 2028, pursuant to an indenture, dated as of March 6, 2014 (as amended and supplemented by a supplemental indenture (the “Supplemental Indenture”), dated as of July 20, 2023, the “Indenture”), by and among the Operating Partnership, the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1042776/000119312523190290/0001193125-23-190290-index.htm

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