Office Properties Income Trust Prices Investment Grade Debt

Giant office property REIT Office Properties Income Trust (OPI) has priced the previously announced senior note issue.

The issue carries a fixed rate of 6.375%. Being debt the interest payments are not qualified.

The issue matures on 6/23/2050 and has an optional redemption period starting 6/23/2025.

The issue carries low investment grade ratings from both S&P and Moodys.

Being a debt issue there will be no OTC grey market trading, but if one is anxious and wishes to buy before exchange trading begins a call to your broker with the CUSIP shown below may get you some shares early.

The pricing term sheet can be found here.

2 thoughts on “Office Properties Income Trust Prices Investment Grade Debt”

  1. Office properties really screwed the pooch with this one.
    That CUSIP is not for $25.00 denominated issues and is going to cause havoc in the trading systems.
    Not surprisingly, it is not found in CUSIP bureau and looks like it was pulled back.
    I expect to see a corrected identifier in CUSIP sometime later today.

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