Office Properties Income Trust (Nasdaq: OPI) announced on September 10, 2026, that it has priced an offering of $425 million aggregate principal amount of 8.75% senior secured notes due 2031. The notes are being sold in a private placement to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.
The notes are guaranteed by certain of OPI’s subsidiaries and secured by first-priority liens on 19 office properties, as well as a pledge of the equity interests of the subsidiary guarantors. The settlement of the offering is expected to occur on September 24, 2026, subject to customary closing conditions.
The company stated that it intends to use the net proceeds from the offering, together with cash on hand, to repay all outstanding borrowings under its secured revolving credit facility and its secured term loan.
As of June 30, 2026, OPI owned 122 properties spanning approximately 17.1 million square feet across 29 states and Washington, D.C. Approximately 62% of the company’s revenues were derived from investment-grade rated tenants at that time.
