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Dec. 13, 2012 /PRNewswire/ -- Brandywine Realty Trust (NYSE: BDN) announced today that its operating partnership, Brandywine Operating Partnership, LP (the "Operating Partnership"), has commenced a cash tender offer (the "Tender Offer") for any and all of the
$216,819,000 outstanding principal amount of its 7.50% Guaranteed Notes due
May 15, 2015 (the "2015 Notes") and any and all of the
$250,000,000 outstanding principal amount of its 6.00% Guaranteed Notes due
April 1, 2016 (the "2016 Notes") issued by the Operating Partnership (the 2015 Notes and the 2016 Notes, collectively, the "Notes"). The consideration payable will be
$1,000 principal amount of 2015 Notes and
$1,000 principal amount of 2016 Notes, each plus accrued and unpaid interest to, but not including, the payment date for the Notes purchased in the Tender Offer, which will be the same business day as the Expiration Time (as defined below). Additional terms and conditions of the Tender Offer will be set forth in the Offer to Purchase (the "Offer to Purchase") and the related Letter of Transmittal (the "Letter of Transmittal") dated
December 13, 2012.
The Tender Offer will expire at
New York City time, on
Thursday, December 27, 2012, unless extended or earlier terminated by the Operating Partnership (the "Expiration Time"). Under certain circumstances described in the Offer to Purchase, the Operating Partnership may terminate the Tender Offer before the Expiration Time. Any tendered Notes may be withdrawn prior to, but not after, the Expiration Time and withdrawn Notes may be re-tendered by a holder at any time prior to the Expiration Time. The Tender Offer will be funded by a combination of available cash on hand, the proceeds from pending note offerings and borrowings under existing credit facilities if required.
The complete terms and conditions of the Tender Offer will be set forth in the Offer to Purchase and Letter of Transmittal that will be sent to holders of the Notes. Holders are urged to read the Tender Offer documents carefully before making any decision with respect to the Tender Offer. Copies of the Offer to Purchase and Letter of Transmittal may be obtained from Global Bondholder Services Corporation, the Information Agent for the Tender Offer, at (866) 470-4200 (toll-free) or (212) 430-3774 (collect). Questions regarding the Tender Offer may be directed to BofA Merrill Lynch, the Dealer Manager for the Tender Offer, at (888) 292-0070 (toll-free) or (980) 387-3907 (collect).