The Firm recently represented BofA Securities, Inc., Citigroup Global Markets Inc. and the other underwriters in connection with a $350 million offering of 7.55% Guaranteed Notes due 2028 by Brandywine Operating Partnership, L.P. (“Brandywine”). The securities are guaranteed by Brandywine Realty Trust, the parent company of Brandywine. The net proceeds from the offering were used to fund a related tender offer by Brandywine and for general corporate purposes.
The Firm also represented BofA Securities, Inc. and Citigroup Global Markets Inc. as dealer managers in connection with Brandywine’s related tender offer to repurchase for cash any and all of its outstanding 3.95% Guaranteed Notes due 2023.
Brandywine is one of the largest publicly traded real estate companies in the United States, with a portfolio comprising 164 properties and 23 million square feet as of September 30, 2022.
The Simpson Thacher team included Mark Brod, Risë Norman, Carlie Passes and Nikaury Payano (Capital Markets); Michael Mann (Tax); Michael Isby (Environmental); Dennis Loiacono (Real Estate); Pasco Struhs (Executive Compensation and Employee Benefits); and Jennie Getsin (Blue Sky).