Simpson Thacher Represents Underwriters in $100 Million Public Offering of Preferred Shares by Brandywine Realty Trust
04.12.12
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The Firm recently represented the underwriters, led by BofA Merrill Lynch and Citigroup, in a $100 million public offering of 4,000,000 shares of 6.90% Series E Cumulative Redeemable Preferred Shares of Brandywine Realty Trust. The Preferred Shares will be listed on the New York Stock Exchange.
The net proceeds from the offering will be used to fund Brandywine Realty Trust’s previously announced $50 million redemption of the 2,000,000 outstanding shares of its 7.50% Series C Cumulative Redeemable Preferred Shares and for other general corporate purposes.
Brandywine Realty Trust is a real estate investment trust that has a portfolio of office and industrial properties in and surrounding Philadelphia, Pennsylvania; Metropolitan Washington, D.C.; Southern and Central New Jersey; Richmond, Virginia; Wilmington, Delaware; Austin, Texas; and Oakland, Concord, Carlsbad and Rancho Bernardo, California.
The Simpson Thacher team for the transaction included, among others, Glenn M. Reiter, Lesley Peng and Daniel Bae (Capital Markets), Daniel Foster (Tax), and Jennie Getsin (Blue Sky).