Boston Properties Prices $1.0 Billion Offering of Senior Unsecured Notes
January 08 2016 - 6:03PM
Business Wire
Boston Properties, Inc. (NYSE: BXP), a real estate
investment trust, announced today that its operating partnership,
Boston Properties Limited Partnership (“BPLP”), has agreed to sell
$1.0 billion of 3.650% senior unsecured notes due 2026 in an
underwritten public offering through Deutsche Bank Securities Inc.,
J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner &
Smith Incorporated, Morgan Stanley & Co. LLC, TD Securities
(USA) LLC and U.S. Bancorp Investments, Inc., as joint book-running
managers. The notes were priced at 99.708% of the principal amount
to yield 3.685% to maturity. The notes will mature on February 1,
2026 unless earlier redeemed. The offering is expected to close on
January 20, 2016.
The estimated net proceeds from this offering are expected to be
approximately $988.9 million. BPLP intends to use the net proceeds
from the sale of the notes for general business purposes, which may
include investment opportunities and debt reduction. Pending such
uses, BPLP may invest the net proceeds in short-term,
interest-bearing securities.
The offering is being made only by means of a prospectus and
related prospectus supplement, a copy of which may be obtained from
Deutsche Bank Securities Inc. at Attention: Prospectus Group, 60
Wall Street, New York, NY 10005-2836, or by calling toll free at
(800) 503-4611 or by emailing prospectus.CPDG@db.com; J.P. Morgan
Securities LLC, 383 Madison Avenue, New York, New York 10179,
Attention: High Grade Syndicate Desk, 3rd floor, or by calling
(212) 834-4533; Merrill Lynch, Pierce, Fenner & Smith
Incorporated, 222 Broadway, 11th Floor, New York, New York 10038,
Attention: Prospectus Department, by calling (800) 294-1322 or by
email at dg.prospectus_requests@baml.com; and Morgan Stanley &
Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014,
Attention: Prospectus Department, or by calling (866) 718-1649 or
by email at prospectus@morganstanley.com. An effective registration
statement is on file with the Securities and Exchange Commission
(SEC), and a copy of the prospectus and related prospectus
supplement also will be available on the SEC’s website at
www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor shall there be
any sale of these securities in any state in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
Boston Properties is a fully integrated, self-administered and
self-managed real estate investment trust that develops,
redevelops, acquires, manages, operates and owns a diverse
portfolio of Class A office space, one hotel, four residential
properties and five retail properties. The Company is one of the
largest owners and developers of Class A office properties in the
United States, concentrated in four markets – Boston, New York, San
Francisco and Washington, DC.
This press release contains forward-looking statements within
the meaning of the Federal securities laws. You can identify these
statements by our use of the words “assumes,” “believes,”
“estimates,” “expects,” “guidance,” “intends,” “plans,” “projects”
and similar expressions that do not relate to historical matters.
You should exercise caution in interpreting and relying on
forward-looking statements because they involve known and unknown
risks, uncertainties and other factors which are, in some cases,
beyond Boston Properties’ control and could materially affect
actual results, performance or achievements. These factors include,
without limitation, Boston Properties’ ability to satisfy the
closing conditions to the pending transaction described above and
regulatory changes and other risks and uncertainties detailed from
time to time in Boston Properties’ filings with the SEC. Boston
Properties does not undertake a duty to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20160108005919/en/
Boston Properties, Inc.Michael LaBelle, 617-236-3352Chief
Financial OfficerorArista Joyner, 617-236-3343Investor Relations
Manager
Boston Properties (NYSE:BXP)
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