Hudson Pacific Properties (HPP) prices $350 million 4.65% notes due 2029.

Hudson Pacific Properties, Inc. (HPP) announced today that it had priced an offering of $350 million 4.65% senior notes due April 1, 2029.  The notes were priced at a spread of 217 bp over treasuries and yield 4.818% to maturity.  The notes are being issued through Hudson Pacific Properties, L.P., the principal operating subsidiary.  Proceeds will be used to reduce balances under the company's revolving credit agreement ($400 million at December 32, 2018), and may also be used to prepay balances under a $75 million term loan due November 2020.

Hudson Pacific is rated BBB-/Baa3/BBB-.