BXP, Inc. (BXP), a developer of workplaces, said on Thursday that its operating partnership, Boston Properties Limited Partnership, priced its private offering of $850 million aggregate principal amount of 2% exchangeable senior notes due 2030.
This was upsized from the previously announced offering of $600 million of notes.
The issuance and sale of the notes are scheduled to settle on September 29.
BPLP also granted the initial purchasers of the notes an option to purchase up to an additional $150 million of notes.
The company estimates that the net proceeds from the offering of the notes will be approximately $828.8 million, or around $975.2 million if the initial purchasers exercise their option to purchase additional notes in full.
BPLP intends to use these net proceeds to pay the cost of the capped call transactions and the remainder to fund in part the repayment or redemption of the $1 billion aggregate principal amount of its 3.650% senior notes due 2026 that are scheduled to mature on February 1, 2026.
BPLP plans to use available cash and debt to fund the remaining portion of the funds needed to redeem the 2026 notes in full.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.