Hudson to repay term loan, revolver borrowings with new note proceeds

By Sarah Lizee

Olympia, Wash., Sept. 25 – Hudson Pacific Properties, LP plans to repay $150 million of its five-year term loan and repay borrowings under its revolving credit facility using proceeds from an offering of senior notes due 2027, according to a 424B5 filing with the Securities and Exchange Commission.

The term loan matures on April 1, 2020 and currently bears interest, with respect to $150 million of the base amount, at one-month Libor plus 130 basis points. As of Sept. 25, $450 million was outstanding on the term loan.

The revolving credit facility currently bears interest at Libor plus 115 bps. As of Sept. 25, $210 million was drawn.

Proceeds will also be used for general corporate purposes.

Hudson Pacific is a Los Angeles-based real estate investment trust focused on office and media and entertainment properties in California.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.