04:56 PM EDT, 06/13/2024 (MT Newswires) -- Piedmont Office Realty Trust ( PDM ) said late Thursday that Piedmont Operating Partnership has priced an offering of $400 million of 6.875% notes due 2029 at 98.993% of the principal amount.

The offering is expected to close on June 25, the company said.

Net proceeds will be used to repay debt outstanding under a 2023 term loan and a 2022 line of credit, the company said, adding that any remaining funds will be for working capital, capital expenditures and other general corporate purposes.