03:19 PM EDT, 04/04/2024 (MT Newswires) -- Brandywine Realty Trust ( BDN ) said Thursday it priced a $400 million public offering of 8.875% guaranteed notes due April 2029 at 99.505% of their principal amount.

The property manager is expected to use net proceeds of around $391.8 million to redeem all $340 million of its outstanding 4.10% notes maturing on Oct. 1, with the remaining funds being used for general corporate purposes, including paying down other debt.

Price: 4.36, Change: +0.01, Percent Change: +0.11