Office Properties Income Trust (OPI) has released an update.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
On February 12, 2024, a company completed a $300 million senior secured notes offering at a 9% interest rate, due in 2029, to fund the redemption of their existing 4.250% senior notes maturing the same year. The new notes are backed by guarantees from subsidiaries holding assets worth approximately $574 million. These notes, not publicly registered, were sold to qualified institutional buyers and are subject to the terms outlined in an indenture with U.S. Bank Trust Company. Additionally, the company plans to use the proceeds alongside a secured credit facility to repay the 2024 notes by March 11, 2024, contingent on sufficient credit facility funds.
For further insights into OPI stock, check out TipRanks’ Stock Analysis page.
