BXP announced that its operating partnership, Boston Properties Partnership, plans to issue $700 million of 6.05% senior unsecured notes due 2036. The notes were priced at 99.837% of principal value with a 6.07% yield and are expected to mature on October 15, 2036. BXP expects to receive approximately $692.4 million in net proceeds, which will mainly be used to redeem or repay $1.0 billion of 2.75% senior notes due October 1, 2026. The company plans to use available cash and/or its revolving credit facility to cover the remaining amount needed to repay the 2026 notes in full. The offering is expected to close on August 31, 2026, subject to customary closing conditions.
BXP, Inc.BXP issues $700M debt at higher 6.05% rate to refinance lower 2.75% notes, increasing interest costs.
