Brandywine Realty accepts tenders for $34.54 million of 5.625% notes

By Jennifer Chiou

New York, May 28 - Brandywine Realty Trust said its operating partnership, Brandywine Operating Partnership, LP, accepted tenders for $34.54 million, or 13.9%, of its $249.13 million of 5.625% guaranteed notes due Dec. 15, 2010 in the cash tender offer for up to $100 million of the notes.

The tender offer expired at 11:59 p.m. ET on May 27.

The early tender deadline was 5 p.m. ET on May 19, pushed back from May 12.

The company offered $930 per $1,000 principal amount of notes. The amount included an early tender payment of $30.00 for each note tendered by the early tender deadline.

Holders also received accrued interest up to but excluding the purchase date on Thursday.

The tendered notes are expected to be retired and canceled.

Brandywine Operating Partnership funded the offer with a combination of available cash on hand and borrowings under its unsecured revolving credit facility.

The lead dealer manager was Wachovia Securities (866 309-6316 or 704 715-8341). RBS and BNY Mellon Capital Markets, LLC were co-dealer managers.

The information agent was Global Bondholder Services Corp. (866 470-4200 or 212 430-3774).

Brandywine Realty is a Radnor, Pa.-based real estate investment trust that owns, develops and manages primarily class A, suburban and urban office buildings.

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