BPLP

BXP Exercises $315.0 Million Accordion Feature Increasing Its Revolving Credit Facility Capacity to More Than $1.8 Billion

Retrieved on: 
Monday, October 2, 2023
REIT, Finance, Professional Services, Commercial Building & Real Estate, Construction & Property, Banco Bilbao Vizcaya Argentaria, Exercise, EVP, BPLP, CFO, Partnership, Sumitomo Mitsui Banking Corporation, M&T Bank, NYSE, Bank, BXP

The facility currently has no outstanding balances.

Key Points: 
  • The facility currently has no outstanding balances.
  • “We are pleased to expand our borrowing capacity and increase the number of participants in our credit facility.
  • The original accordion feature provided BPLP with an option to increase commitments by up to $500.0 million.
  • Following this accordion exercise, BPLP could increase total commitments under the facility by up to an additional $185.0 million, subject to certain conditions.

BXP Prices $750.0 Million Offering of Green Bonds

Retrieved on: 
Thursday, May 4, 2023
Commercial Building & Real Estate, Construction & Property, REIT, Attention, U.S. Department of Energy, Office of Inspector General, Communication, Partnership, U.S. Department of Agriculture Cotton Annex, LEED, Telephone, BPLP, BofA Securities, Property, J.P. Morgan & Co., Federal, EDGAR, Sale, Suite, 3rd Floor, Prospectus, Greenwich Street, Water, Commercial property, Wells Fargo, BXP, Growth, ESG, Security (finance), NYSE, Broadridge Financial Solutions, Bank

The estimated net proceeds from the offering are expected to be approximately $741.3 million.

Key Points: 
  • The estimated net proceeds from the offering are expected to be approximately $741.3 million.
  • Since BPLP’s initial green bond offering in November 2018, BPLP has issued an aggregate principal amount of $4.30 billion in its five previous green bond offerings.
  • BXP actively works to promote its growth and operations in a sustainable and responsible manner and is a recognized leader in green building.
  • In addition, BXP earned its eleventh consecutive “Green Star” recognition, the highest GRESB 5-star Rating, and an “A” disclosure score.

BXP Announces Closing of $1.2 Billion Unsecured Term Loan Facility

Retrieved on: 
Monday, January 9, 2023
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, REIT, Banking, TD Bank, Syndication, Bank, Partnership, BofA Securities, National Association, SOFR, EVP, Wells Fargo, U.S. Bancorp, BPLP, BNY Mellon, Sumitomo Mitsui Banking Corporation, CFO, Bank of America, M&T Bank, JPMorgan Chase, NYSE, Truist Financial, Chase Bank, TD, PNC Financial Services, Scotiabank, Security (finance), BXP

BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced today that its operating partnership, Boston Properties Limited Partnership (“BPLP”), has closed on a new, $1.2 billion unsecured term loan facility that matures in May 2024, with one, twelve-month extension option subject to the satisfaction of customary conditions.

Key Points: 
  • BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced today that its operating partnership, Boston Properties Limited Partnership (“BPLP”), has closed on a new, $1.2 billion unsecured term loan facility that matures in May 2024, with one, twelve-month extension option subject to the satisfaction of customary conditions.
  • The term loan facility also includes an accordion feature that allows BPLP, at its option, to increase total commitments under the facility up to an additional $300.0 million in aggregate principal amount (such that the term loan facility shall not exceed $1.5 billion), subject to the satisfaction of customary conditions.
  • The term loan currently bears interest at a variable rate equal to adjusted Term SOFR plus 0.85% per annum.
  • A portion of the proceeds were used to repay BPLP’s $730.0 million term loan that was scheduled to mature in May 2023, resulting in incremental proceeds of approximately $466.0 million that are available for general corporate purposes.

BXP Prices $750 Million Offering of Green Bonds

Retrieved on: 
Monday, November 7, 2022
Commercial Building & Real Estate, Construction & Property, Professional Services, Finance, Madison Avenue, U.S. Securities and Exchange Commission, Property, Growth, FFO, LEED, SEC, BofA Securities, NYSE, BPLP, Gold, Income, Certification, REIT, Attention, Suite, Wells Fargo, Telephone, Prospectus, LLC, Goal, Communication, Partnership, J.P. Morgan & Co., EDGAR, EPS, BXP, Security (finance), Federal, Year, Sale, Platinum

The estimated net proceeds from the offering are expected to be approximately $743.5 million.

Key Points: 
  • The estimated net proceeds from the offering are expected to be approximately $743.5 million.
  • Since BPLPs initial green bond offering in November 2018, BPLP has issued $3.55 billion of green bonds in four separate bond offerings.
  • BXP has certified 29.4 million square feet of its current in-service portfolio at the highest LEED certification levels of Gold and Platinum.
  • BXP has earned an eleventh consecutive Green Star recognition and the highest GRESB 5-star Rating, as well as an A disclosure score.

Boston Properties Prices $850.0 Million Offering of Green Bonds; Elects to Redeem $1.0 Billion of Senior Unsecured Notes Due February 2023

Retrieved on: 
Wednesday, September 15, 2021
REIT, Finance, Professional Services, Commercial Building & Real Estate, Construction & Property, Benchmark, Gold, U.S. Securities and Exchange Commission, Security (finance), Telephone, Certification, Wells Fargo, Prospectus, BofA Securities, Note, BXP, Attention, Peachtree Street, Company, 3rd Floor, REIT, Madison Avenue, LLC, LEED, Year, NYSE, Boston Properties, Greenwich Street, Communication, Property, Growth, Bank, Suite, Partnership, BPLP, Federal, SEC, J.P. Morgan & Co., EDGAR, Sale

The estimated net proceeds from the offering are expected to be approximately $842.5 million.

Key Points: 
  • The estimated net proceeds from the offering are expected to be approximately $842.5 million.
  • The offering will not have a material impact on the Companys results of operations for the third quarter of 2021.
  • This is BPLPs fourth green bond offering, following its initial $1.0 billion green bond offering in November 2018, its $850.0 million green bond offering in June 2019, and its $850.0 million green bond offering in March 2021.
  • Following the pricing of the offering, BPLP delivered notice to the trustee that it exercised its right to redeem the 2023 Notes on October 15, 2021.