Brandywine Realty operating partnership extends early deadline in tender for 5.625% notes

By Jennifer Chiou

New York, May 13 - Brandywine Realty Trust said its operating partnership, Brandywine Operating Partnership, LP, prolonged the early deadline in the cash tender offer for up to $100 million principal amount of its 5.625% guaranteed notes due Dec. 15, 2010, of which $249.13 million principal amount is outstanding.

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

The company is offering $930 per $1,000 principal amount of notes. The amount includes an early tender payment of $30 for each note tendered by the early tender deadline.

Holders will also receive accrued interest up to but excluding the purchase date, which will be the next business day following the expiration date.

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

The tendered notes are expected to be retired and canceled.

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

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

The information agent is 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.

© 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.