Hudson Pacific Properties Inc.'s operating partnership priced a $400.0 million public offering of 3.250% senior unsecured notes due Jan. 15, 2030.
The office real estate investment trust said the notes were issued at 99.268% with a coupon of 3.250%.
Hudson Pacific Properties LP would use the net proceeds to repay its $300.0 million five-year term loan due April 2020, to repay outstanding borrowings under its revolving credit facility and/or for general corporate purposes.
Wells Fargo Securities LLC, BofA Securities Inc., Barclays Capital Inc., Goldman Sachs & Co. LLC, KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC and U.S. Bancorp Investments Inc. are the joint book-running managers for the offering, slated to close Oct. 3.
Fifth Third Securities Inc., RBC Capital Markets LLC and BMO Capital Markets Corp. are senior co-managers, while Regions Securities LLC, BB&T Capital Markets and Samuel A. Ramirez & Co. Inc. are co-managers.
