BRANDYWINE OPERATING PARTNERSHIP, L.P.: debt financing — Brandywine Realty Trust to redeem remaining $113.4M of 4.10% notes due 2024; tender offer completed

BRANDYWINE OPERATING PARTNERSHIP, L.P.

Tender offer for $335.1M 4.10% notes due Oct 2024 expired; $221.6M (66.13%) accepted at $994.48 per $1,000 principal.
Remaining ~$113.4M notes to be redeemed on June 7, 2024 at greater of 100% principal or Treasury rate + 25 bps plus accrued interest.
Redemption funded by net proceeds from $400M 8.875% Guaranteed Notes due 2029 offering.
BofA Securities and Citigroup acted as dealer managers; notes held through DTC redeemed per DTC procedures.
Interest ceases on redemption date; holders must surrender notes to BNY Mellon for payment.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

BRANDYWINE OPERATING PARTNERSHIP, L.P. faced acceleration on senior notes of all of the outstanding aggregate principal amount of its 4.10% Guaranteed Notes due October 1, 2024 with The Bank of New York Mellon at 4.10% maturing October 1, 2024.

Instrument: senior notes
Principal: all of the outstanding aggregate principal amount of its 4.10% Guaranteed Notes due October 1, 2024
Counterparty: The Bank of New York Mellon
Rate: 4.10%
Maturity: October 1, 2024
Event: acceleration

Exact text from the filing

gave notice under the Indenture, dated as of October 22, 2004 (as modified or supplemented from time to time, the “Indenture”), as supplemented by the First Supplemental Indenture dated as of May 25, 2005, and the Third Supplemental Indenture dated as of April 5, 2011, among the Company, the Operating Partnership and The Bank of New York Mellon (formerly known as The Bank of New York), as trustee, for the redemption of all of the outstanding aggregate principal amount of its 4.10% Guaranteed Notes due October 1, 2024

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Source: SEC EDGAR

accession 0001193125-24-107178

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