Government Properties Income Trust Prices $300 Million of 4.000% Senior Notes Due 2022
July 17 2017 - 5:45PM
Business Wire
Government Properties Income Trust (Nasdaq: GOV) today announced
that it has priced an underwritten public offering of $300 million
of 4.000% senior unsecured notes due July 15, 2022 (“Notes”). GOV
expects to use the net proceeds from this offering to finance, in
part, its previously announced acquisition of First Potomac Realty
Trust, or FPO. Pending the consummation of the FPO acquisition and
the use of proceeds described in the prior sentence GOV may repay
future amounts outstanding under its revolving credit facility or
invest the net proceeds from this offering in short term
investments consistent with GOV’s intention to maintain its
qualification for taxation as a real estate investment trust, or
REIT. The closing of this offering is expected to occur on July 20,
2017, subject to customary closing conditions.
The joint book-running managers for the offering were Citigroup,
BofA Merrill Lynch, Morgan Stanley, UBS Investment Bank, BBVA,
Mizuho Securities, PNC Capital Markets LLC, RBC Capital Markets and
Regions Securities LLC. The joint lead managers for the offering
were BB&T Capital Markets, Fifth Third Securities, FTN
Financial Securities Corp, Ramirez & Co., Inc., SMBC Nikko and
US Bancorp.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which the offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction. Copies of the prospectus supplement relating to this
offering and the related prospectus may be obtained by contacting
the offices of: Citigroup, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, or by calling (800) 831-9146; BofA Merrill Lynch,
NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC
28255-0001, Attn: Prospectus Department, email:
dg.prospectus_requests@baml.com; Morgan Stanley, Attn: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, NY 10014,
telephone: (866) 718-1649; or UBS Investment Bank, Attn: Prospectus
Department, 1285 Avenue of the Americas, New York, NY 10019,
telephone: (888) 827-7275.
Government Properties Income Trust is a real estate investment
trust, or REIT, which owns properties leased primarily to the U.S.
Government and state governments located throughout the United
States. GOV is managed by the operating subsidiary of The RMR Group
Inc. (Nasdaq: RMR), an alternative asset management company that is
headquartered in Newton, MA.
WARNING REGARDING
FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN
THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE
BASED UPON GOV'S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE
STATEMENTS AND THE IMPLICATIONS OF THESE STATEMENTS ARE NOT
GUARANTEED TO OCCUR AND MAY NOT OCCUR FOR VARIOUS REASONS, SOME OF
WHICH ARE BEYOND GOV’S CONTROL. FOR EXAMPLE:
- THIS PRESS RELEASE STATES THAT THE
CLOSING OF THE NOTES OFFERING IS EXPECTED TO OCCUR ON JULY 20,
2017. THE CLOSING OF THIS OFFERING IS SUBJECT TO VARIOUS CONDITIONS
AND CONTINGENCIES AS ARE CUSTOMARY IN UNDERWRITING AGREEMENTS IN
THE UNITED STATES. IF THESE CONDITIONS ARE NOT SATISFIED OR THE
SPECIFIED CONTINGENCIES DO NOT OCCUR, THIS OFFERING MAY NOT
CLOSE.
- GOV’S CURRENT INTENT TO USE THE NET
PROCEEDS FROM THIS OFFERING TO FINANCE, IN PART, THE ACQUISITION OF
FPO IS DEPENDENT ON THE CLOSING OF THIS OFFERING AND MAY NOT
OCCUR.
FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO
PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.
A Maryland Real Estate Investment Trust with
transferable shares of beneficial interest listed on the Nasdaq.No
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
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version on businesswire.com: http://www.businesswire.com/news/home/20170717006251/en/
Government Properties Income TrustChristopher Ranjitkar,
617-219-1410Director, Investor Relations
Government Properties Income (NASDAQ:GOV)
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