Piedmont Realty Trust, Inc. (PDM): debt financing — Piedmont issues $400M 5.625% Senior Notes due 2033 to refinance higher-cost 2028 notes

Piedmont Realty Trust, Inc.

Issued $400M 5.625% Senior Notes due Jan 15, 2033; interest payable semi-annually starting July 15, 2026.
Proceeds, with credit line borrowings and cash, to fund tender offer for all outstanding 9.250% senior notes due 2028.
Notes fully guaranteed by Piedmont Realty Trust; redemption at make-whole before Nov 15, 2032, then at par.
Indenture covenants limit secured/unsecured debt and require unencumbered assets >= 150% of unsecured debt.
Underwriting agreement with Wells Fargo, BofA, J.P. Morgan, TD Securities, Truist Securities.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Piedmont Realty Trust, Inc. incurred senior notes of $400,000,000 in aggregate principal amount with U.S. Bank Trust Company, National Association at 5.625% per year maturing January 15, 2033.

Instrument: senior notes
Principal: $400,000,000 in aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 5.625% per year
Maturity: January 15, 2033
Event: incurrence

Exact text from the filing

On November 20, 2025, Piedmont Operating Partnership, LP (the “Operating Partnership”), the operating partnership and wholly owned subsidiary of Piedmont Realty Trust, Inc. (the “Company”), issued $400,000,000 in aggregate principal amount of 5.625% Senior Notes due 2033 (the “Notes”), which mature on January 15, 2033, pursuant to an indenture, dated as of March 6, 2014, by and among the Operating Partnership, the Company and U.S. Bank Trust Company, National Association, as trustee (as amended and supplemented by a supplemental indenture (the “Supplemental Indenture”), dated as of November 20, 2025, the “Indenture”).

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Piedmont Realty Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-289778

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