Brandywine Realty (BDN) prices $350 million 7.550% senior notes.

Brandywine Realty Trust (BDN) announced today that its operating subsidiary has priced an offering of $350 million 7.550% senior unsecured notes due 2028. The notes were priced at a discount to yield 7.776% or +400 basis points to the benchmark treasury. Proceeds will be used to refund a $350 million senior note issue due February 2023.

Founded in 1994, Brandywine Realty Trust (BDN) is an equity REIT focused on the ownership and development of Class-A office properties in select urban and suburban markets. As of September 30, 2022, BDN reported a total market capitalization of $3.2 billion.