Government Properties to fund revolver paydown with stock proceeds

By Ashley Montgomery

Kansas City, Kan., Oct. 15 - Government Properties Income Trust plans to use the proceeds from its offering of common shares to repay its revolving credit facility, according to a filing with the Securities and Exchange Commission.

The company said it owed $167 million under the revolver as of Monday.

Proceeds will also be used for general corporate purposes.

Government Properties Income Trust is a real estate investment trust that owns properties leased primarily to the U.S. government and state governments. It is based in Newton, Mass.

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