Piedmont Office Realty Trust Announces Pricing of Senior Notes Offering

Core Viewpoint - Piedmont Office Realty Trust, Inc. has announced a $400 million offering of senior unsecured notes with a 6.875% interest rate, maturing in 2029, which is expected to close on June 25, 2024 [1][2]. Financial Details - The notes are priced at 98.993% of the principal amount and will be fully guaranteed on a senior unsecured basis by the Company [1][3]. - The net proceeds from the offering will be used to repay existing borrowings under its 2023 term loan and 2022 line of credit, with any remaining funds allocated for working capital, capital expenditures, and other corporate purposes [2]. Company Overview - Piedmont Office Realty Trust, Inc. is a real estate investment trust (REIT) that owns, manages, and operates high-quality Class A office properties, primarily in the Sunbelt region, with a portfolio valued at approximately $5 billion and covering around 16 million square feet [10].