Brandywine Realty Trust Announces Tender Offer for Any and All of its Outstanding 4.10% Guaranteed Notes due 2024
PHILADELPHIA, April 15, 2024 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (the “Company”) (NYSE:BDN) announced today that its operating partnership, Brandywine Operating Partnership, L.P. (the
“Operating Partnership”), has commenced a cash tender offer (the “Tender Offer”) for any and all of the $335,100,000 outstanding principal amount of its 4.10% Guaranteed Notes due October 1, 2024
(the “Notes”).
Certain information regarding the Notes and the pricing for the Tender Offer is set forth in the table below.
Title of Security | CUSIP Number |
Principal Amount Outstanding |
U.S. Treasury Reference Security |
Bloomberg Reference Page |
Fixed Spread |
4.10% Guaranteed Notes due October 1, 2024 |
105340 AN3 | $335,100,000 |
4.250% U.S. Treasury due September 30, 2024 |
FIT3 | 0 bps |
The “Purchase Price” offered per $1,000 principal amount of Notes validly tendered and accepted for purchase pursuant to the Tender Offer will be determined by the Dealer Managers referred to below in the manner described in the Offer to Purchase (as defined below) by reference to the fixed spread for the Notes specified above plus the yield based on the bid-side price of the U.S. Treasury Reference Security specified above, as quoted on the Bloomberg Bond Trader FIT3 series of pages, at 10:00 a.m., New York City time, on April 19, 2024. Holders will also receive in cash an amount equal to Accrued Interest (as defined below) in addition to the Purchase Price.
The Tender Offer consists of an offer on the terms and conditions set forth in the offer to purchase, dated April 15, 2024 (the “Offer to Purchase”), and the related letter of transmittal and notice of guaranteed delivery (as they may each be amended or supplemented from time to time, the “Tender Offer Documents”), to purchase for cash any and all of the Notes.
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The Tender Offer will expire at 5:00 p.m., New York City time, on April 19, 2024, unless extended or earlier terminated (such time and date, as the same may be extended, the “Expiration Date”). Holders of Notes must validly tender (including by notice of guaranteed delivery) and not validly withdraw their Notes prior to or at the Expiration Date to be eligible to receive the Purchase Price.