Attached files
file | filename |
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8-K - FORM 8-K - BRANDYWINE REALTY TRUST | w82170ae8vk.htm |
EX-5.1 - EX-5.1 - BRANDYWINE REALTY TRUST | w82170aexv5w1.htm |
EX-4.2 - EX-4.2 - BRANDYWINE REALTY TRUST | w82170aexv4w2.htm |
EX-1.1 - EXHIBIT 1.1 - BRANDYWINE REALTY TRUST | w82170aexv1w1.htm |
EX-4.1 - EXHIBIT 4.1 - BRANDYWINE REALTY TRUST | w82170aexv4w1.htm |
EX-1.2 - EXHIBIT 1.2 - BRANDYWINE REALTY TRUST | w82170aexv1w2.htm |
Exhibit 99.1
Media Contact: Kaitlin Bitting Tierney Agency 215-790-4382 kbitting@tierneyagency.com |
Company / Investor Contact: Marge Boccuti Manager, Investor Relations 610-832-7702 marge.boccuti@bdnreit.com |
Brandywine Realty Trust Prices $325 Million of 4.95% Seven-Year Senior Unsecured Notes
RADNOR, PA, March 30, 2011 Brandywine Realty Trust (the Company) (NYSE:BDN) announced today
that its operating partnership, Brandywine Operating Partnership, L.P., has priced the underwritten
public offering of $325 million of 4.95% senior unsecured guaranteed notes due April 15, 2018.
Interest on the notes will be payable semi-annually on April 15 and October 15 commencing October
15, 2011. The notes are being offered to investors at a price of 98.907% with a yield to maturity
of 5.137%, representing a spread at pricing of 230 basis points to the yield on the 2.75% February
28, 2018 Treasury note. The net proceeds of the offering, after deducting underwriting discounts
and offering expenses, are expected to be approximately $318.9 million and will be used to repay
existing indebtedness under the Companys unsecured revolving credit facility and for general
corporate purposes. The sale of the notes is expected to close on April 5, 2011.
The joint book-running managers for the offering are Wells Fargo Securities, J.P. Morgan and Citi.
The senior co-managers are BNY Mellon Capital Markets LLC, Deutsche Bank Securities, Morgan Keegan
& Company, PNC Capital Markets LLC, RBS, TD Securities and US Bancorp. The co-managers are Barclays
Capital, BMO Capital Markets, Comerica Securities, COMMERZBANK, Goldman, Sachs & Co., Janney
Montgomery Scott, RBC Capital Markets, Santander, SunTrust Robinson Humphrey and UBS Investment
Bank.
Copies of the prospectus supplement and prospectus relating to the offering may be obtained from
Wells Fargo Securities, LLC, 301 S. College Street, Charlotte, North Carolina 28288, Attn:
Syndicate Operations, 1-800-326-5897; J.P. Morgan Securities LLC, 383 Madison Avenue New York, NY
10179, Attn: High Grade Syndicate Desk (212) 834-4533; and Citigroup Global Markets Inc., 388
Greenwich Street, New York, NY 10013, Attention: Registration Department, 1-877-858-5407.
About Brandywine Realty Trust
Brandywine Realty Trust is one of the largest, publicly traded, full-service, integrated real
estate companies in the United States. Organized as a real estate investment trust and operating
in select markets, Brandywine owns, develops, manages and has ownership interests in a primarily
Class A, suburban and urban office portfolio comprising 316 properties and 36.1 million square
feet, including 235 properties and 25.8 million square feet owned on a consolidated basis and 51
properties and 6.5 million square feet in 17 unconsolidated real estate ventures. For more
information, please visit www.brandywinerealty.com.
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors that may cause the actual results,
performance, achievements or transactions of the Company and its affiliates or industry results to
be materially different from any future results, performance, achievements or transactions
expressed or implied by such forward-looking statements. Such risks, uncertainties and other
factors relate to, among others, the Companys ability to lease vacant space and to renew or relet
space under expiring leases at expected levels, the potential loss of major tenants, interest rate
levels, the availability and terms of debt and equity financing, competition with other real estate
companies for tenants and acquisitions, risks of real estate acquisitions, dispositions and
developments, including cost overruns and construction delays, unanticipated operating costs and
the effects of general and local economic and real estate conditions. Additional information or
factors which could impact the Company and the forward-looking statements contained herein are
included in the Companys filings with the Securities and Exchange Commission. The Company assumes
no obligation to update or supplement forward-looking statements that become untrue because of
subsequent events.
555 East Lancaster Avenue, Suite 100; Radnor, PA 19087 | Phone: (610) 325-5600 Fax: (610) 325-5622 |