The Firm recently represented BofA Securities, Inc., Citigroup Global Markets Inc. and the other underwriters in connection with a $400 million offering of 8.875% Guaranteed Notes due 2029 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 4.10% Guaranteed Notes due 2024.
Brandywine is one of the largest publicly traded real estate companies in the United States, with a portfolio comprising 156 properties and 22.3 million square feet as of March 31, 2024.
The Simpson Thacher team included Mark Brod, Ryan Poché and Emily Anne Owen (Capital Markets); Michael Mann and Mohanad Salaimi (Tax); Michael Isby (Environmental); Dennis Loiacono (Real Estate); Pasco Struhs (Executive Compensation and Employee Benefits); and Jennie Getsin (Blue Sky).