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CommonWealth REIT (“CommonWealth”) (NYSE: CWH) today announced that, pursuant to its previously announced tender offer to purchase for cash up to $665,000,000 (the “Maximum Tender Amount”) aggregate principal amount of the Senior Notes (as defined below) (the “Offer”), a total of $670,295,000 principal amount of Senior Notes were validly tendered at or prior to the expiration date of midnight, New York City time, at the end of March 22, 2013 (such time and date, the “Expiration Date”), according to the information provided by Global Bondholder Services Corporation, the tender agent for the Offer.
The Offer was made upon the terms and subject to the conditions set forth in an offer to purchase and related letter of transmittal, dated February 25, 2013, as amended by a press release dated March 1, 2013 and a press release dated March 11, 2013 (together, the “Offer Documents”), to purchase up to the Maximum Tender Amount of the 5.75% Senior Notes due February 15, 2014, 6.40% Senior Notes due February 15, 2015, 5.75% Senior Notes due November 1, 2015 and 6.25% Senior Notes due August 15, 2016, all listed below (the “Senior Notes”).
Title of Security
Principal Amount Outstanding (US$)
Principal Amount Tendered
Percentage Tendered of Principal Amount Outstanding
5.75% Senior Notes dueFebruary 15, 2014
6.40% Senior Notes dueFebruary 15, 2015
5.75% Senior Notes dueNovember 1, 2015
6.25% Senior Notes dueAugust 15, 2016
At the time of the issuance of the Senior Notes, the issuer, CommonWealth REIT, was then known as HRPT Properties Trust.
While the total amount of Senior Notes tendered exceeds the Maximum Tender Amount, the rules of the Securities and Exchange Commission allow CommonWealth to accept the amount tendered without amending and extending the Offer. Accordingly, CommonWealth has accepted for purchase all of the Senior Notes validly tendered at or prior to the Expiration Date which have not previously been purchased during the course of the Offer. CommonWealth expects to make payment for such Senior Notes in same-day funds on March 25, 2013 (the “Final Settlement Date”).