Boston Properties to redeem 5.625% notes due 2020 at 103.9

By Angela McDaniels

Tacoma, Wash., Sept. 16 – Boston Properties LP will redeem its $700 million of 5.625% senior notes due 2020 in full on Sept. 18, according to a news release from Boston Properties, Inc.

The redemption price is 103.9 plus accrued interest up to but excluding the redemption date.

The total redemption price will be about $740.7 million, including about $13.5 million of accrued interest.

The redemption is being partially funded with proceeds from the offering in August of $700 million of 2.9% senior notes due 2030.

As a result of the redemption, Boston Properties expects to record a loss from early extinguishment of debt of about $28 million, or about $0.16 per diluted share, in the third quarter of 2019.

Boston Properties is a Boston-based real estate investment trust that develops and owns class A office properties.

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