Financing ·
Office Properties Income Trust issues $425M of 8.75% senior secured notes due 2031 to repay existing debt
OPIOffice Properties Income Trust
On September 24, 2026, Office Properties Income Trust issued $425.0 million in aggregate principal amount of 8.75% senior secured notes due October 1, 2031. The notes are fully and unconditionally guaranteed by certain subsidiaries and secured by a first-priority lien on 19 office properties and the equity interests of the guarantors. Interest is payable semi-annually in arrears on April 1 and October 1, beginning April 1, 2027. The company used the net proceeds from this offering, combined with cash on hand, to repay all outstanding borrowings under its existing secured revolving credit facility and secured term loan, totaling $425.0 million in principal indebtedness. Consequently, the Second Amended and Restated Credit Agreement dated January 29, 2024, was terminated. Office Properties Income Trust is a real estate investment trust that owns and operates office properties.