Brandywine Realty Trust accepts USD 70 million of 8.875% notes due 2029 in tender offer
BDN•Impact on the 2029 notes and funding
The retirement is expected to reduce the 2029 Notes by about 12.7%. Funding will come from cash or borrowings under a USD 600 million credit line.
Tender offer acceptance and proration
Brandywine Realty Trust’s operating partnership accepted USD 70 million of 8.875% guaranteed notes due 2029 in a cash tender offer.
The offer expired Aug. 25, 2026; USD 275.7 million of the USD 550 million outstanding was tendered, triggering proration of about 25.5%.
Purchase price and expected settlement
The purchase price was set at USD 1,068.75 per USD 1,000 principal. Settlement is targeted for Aug. 27, 2026.
