{"id":851158,"date":"2023-01-10T06:04:05","date_gmt":"2023-01-10T05:04:05","guid":{"rendered":"https:\/\/bebeez.it\/non-categorizzato\/bxp-announces-closing-of-1-2-billion-unsecured-term-loan-facility\/"},"modified":"2023-01-10T06:04:05","modified_gmt":"2023-01-10T05:04:05","slug":"bxp-announces-closing-of-1-2-billion-unsecured-term-loan-facility","status":"publish","type":"post","link":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/bxp-announces-closing-of-1-2-billion-unsecured-term-loan-facility\/","title":{"rendered":"BXP Announces Closing of $1.2 Billion Unsecured Term Loan Facility"},"content":{"rendered":"

BOSTON–(BUSINESS WIRE)–BXP<\/a> (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced today that its operating partnership, Boston Properties Limited Partnership (\u201cBPLP\u201d), has closed on a new, $1.2 billion unsecured term loan facility that matures in May 2024, with one, twelve-month extension option subject to the satisfaction of customary conditions.\n<\/p>\n

<\/a><\/p>\n

\nThe term loan facility also includes an accordion feature that allows BPLP, at its option, to increase total commitments under the facility up to an additional $300.0 million in aggregate principal amount (such that the term loan facility shall not exceed $1.5 billion), subject to the satisfaction of customary conditions. The term loan currently bears interest at a variable rate equal to adjusted Term SOFR plus 0.85% per annum.\n<\/p>\n

\nA portion of the proceeds were used to repay BPLP\u2019s $730.0 million term loan that was scheduled to mature in May 2023, resulting in incremental proceeds of approximately $466.0 million that are available for general corporate purposes.\n<\/p>\n

\n\u201cThe execution of this attractive financing is a testament to BXP\u2019s financial condition and the strength and support of our banking relationships,\u201d stated Mike LaBelle, EVP, CFO, & Treasurer, BXP. \u201cThis facility enhances our already strong liquidity as we continue our strategic focus on growing BXP\u2019s portfolio of premier workplaces, including the commencement of our two fully leased life science developments in Cambridge, MA, creating value over the long term for our clients and shareholders.\u201d\n<\/p>\n

\nBofA Securities, Inc. and JPMorgan Chase Bank, N.A. acted as Joint Lead Arrangers and Joint Bookrunners for the facility, along with Bank of America, N.A., as Administrative Agent and lender; JPMorgan Chase Bank, N.A., as Syndication Agent and lender; and Wells Fargo, N.A.; The Bank of New York Mellon; Morgan Stanley Senior Funding, Inc.; U.S. Bank National Association; Bank of Nova Scotia; Truist Bank; Mizuho Bank, Ltd.; M&T Bank; Sumitomo Mitsui Banking Corporation; TD Bank, N.A.; and PNC Bank, National Association as Documentation Agents; and a syndicate of banks as lenders.\n<\/p>\n

\nABOUT BXP\n<\/p>\n

\nBXP (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT). As of September 30, 2022, including properties owned by unconsolidated joint ventures, BXP\u2019s portfolio totaled 53.5 million square feet and 193 properties, including 14 properties under construction\/redevelopment. For more information about BXP, please visit our website<\/a> or follow us on LinkedIn <\/a>or Instagram<\/a>.\n<\/p>\n

Contacts <\/p>\n

\nAT BXP<\/span>
Mike LaBelle
\n
Executive Vice President
\n
Chief Financial Officer
\n
mlabelle@bxp.com<\/a>\n<\/p>\n

\nHelen Han
\n
Vice President, Investor Relations
\n
hhan@bxp.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

BOSTON–(BUSINESS WIRE)–BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced today that its operating partnership, Boston Properties Limited Partnership (\u201cBPLP\u201d), has closed on a new, $1.2 billion unsecured term loan facility that matures in May 2024, with one, twelve-month extension option subject to the satisfaction […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[49630],"tags":[],"settori":[],"slider_categorie_and_home_page":[],"class_list":["post-851158","post","type-post","status-publish","format-standard","hentry","category-real-estate-in-asia-pacific"],"acf":[],"yoast_head":"\nBXP Announces Closing of $1.2 Billion Unsecured Term Loan Facility - BeBeez<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/bxp-announces-closing-of-1-2-billion-unsecured-term-loan-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BXP Announces Closing of $1.2 Billion Unsecured Term Loan Facility - 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