The Firm represented underwriters, led by Wells Fargo Securities, LLC, Barclays Capital Inc., Jefferies LLC and RBC Capital Markets, LLC, in a $250 million public offering of 4.100% Guaranteed Notes due 2024 and $250 million public offering of 4.550% Guaranteed Notes due 2029 of Brandywine Operating Partnership, L.P. The Notes are guaranteed by Brandywine Realty Trust, the parent company of Brandywine Operating Partnership, L.P. The net proceeds of the offering are being used to fund tender offers for any and all of the outstanding 5.40% Guaranteed Notes due 2014 and 7.50% Guaranteed Notes due 2015 of Brandywine Operating Partnership, L.P. and any applicable redemption of these notes, with any remaining net proceeds to be used for general corporate purposes, which may include the repayment, repurchase or other retirement of other indebtedness. The Firm also represented Wells Fargo Securities, LLC in its capacity as dealer manager in the tender offer.
Brandywine Realty Trust is a REIT 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 Rhett Brandon, John Lobrano, Josephine Djekovic, Karen Wang and Caroline Gross (Capital Markets); Jonathan Cantor and Judy Yan (Tax); and Jennie Getsin (Blue Sky).