Piedmont prices $200M 2.875% exchangeable notes due 2031, redeems 2028 notes and buys back shares

Piedmont Realty Trust, Inc.

Piedmont priced $200M of 2.875% exchangeable senior notes due 2031; initial exchange price $12.65 per share (37.5% premium over $9.20 close).
Net proceeds ~$194.3M used to redeem all outstanding 9.250% senior notes due 2028 and repurchase 5,434,782 shares at $9.20 (~$50M).
Initial purchasers have option to buy up to $30M additional notes within 13 days; proceeds would reach ~$223.5M if exercised.
Notes issued by Piedmont Operating Partnership, fully guaranteed by Piedmont Realty Trust; settlement on Sept 17, 2026.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.