secwatch.observer — SEC 8-K summary
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Issuer:     Piedmont Realty Trust, Inc. (PDM)
CIK:        0001042776
Form:       8-K
Filed at:   2024-06-25T23:59:59+00:00
Accession:  0001193125-24-167911
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Piedmont Office Realty Trust issues $400M of 6.875% Senior Notes due 2029
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- Issued $400M aggregate principal of 6.875% Senior Notes due July 15, 2029; interest semi-annual starting Jan 15, 2025.
- Notes fully and unconditionally guaranteed by Piedmont Office Realty Trust, Inc.
- Net proceeds to repay 2023 term loan and 2022 line of credit; remainder for working capital and general corporate purposes.
- May redeem any time before June 15, 2029 at make-whole price; after that at par.
- Covenants limit secured/unsecured debt and require unencumbered assets ≥150% of unsecured debt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042776/000119312524167911/0001193125-24-167911-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042776/000119312524167911/d858227d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-167911

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