Office Properties Income Refinances Debt and Issues Stock

Office Properties Income ( (OPI) ) just unveiled an update.

Office Properties Income Trust (OPI) has entered into an Exchange Agreement to address its 2025 debt maturities by refinancing up to $340 million of its outstanding senior unsecured notes. The agreement involves exchanging the existing notes for new 3.250% Senior Secured Notes due 2027 and issuing additional common stock. This strategic move aims to enhance OPI’s financial position amid market challenges, with the transaction expected to close by the end of 2024, highlighting OPI’s proactive approach to managing its debt obligations.

See more insights into OPI stock on TipRanks’ Stock Analysis page.