Brandywine Operating Partnership offers fixed-rate guaranteed notes

By Marisa Wong

Los Angeles, April 3 – Brandywine Operating Partnership, LP plans to price fixed-rate notes guaranteed by general partner Brandywine Realty Trust, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will feature a make-whole call option, followed by a par call option.

BofA Securities, Inc. and Citigroup Global Markets Inc. are the joint bookrunners.

Bank of New York Mellon is the trustee.

Troutman Pepper Hamilton Sanders LLP will act as counsel for the issuer. Simpson Thacher & Bartlett LLP will represent the underwriters.

The company intends to use proceeds from the offering to repurchase or redeem the $340 million of outstanding principal amount of its 4.1% guaranteed notes due Oct. 1, 2024 and for general corporate purposes, which may include the repayment, repurchase or retirement of other debt.

Brandywine is a self-administered and self-managed real estate investment trust based in Philadelphia.

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