Piedmont Realty Trust plans USD 200 million exchangeable senior notes offering
PDM•Use of proceeds
Proceeds are earmarked to redeem outstanding 9.250% senior notes due 2028, including the make-whole premium, using cash and credit-line borrowings.
Up to about USD 50 million of net proceeds is also slated for a concurrent privately negotiated repurchase of common shares.
Exchangeable notes offering
Piedmont Realty Trust’s operating partnership launched a private offering of USD 200 million exchangeable senior notes due 2031.
Initial purchasers can buy up to an additional USD 30 million of notes within 13 days, taking potential issuance to USD 230 million.
