BOSTON, Dec. 10 /PRNewswire-FirstCall/ -- Boston Properties, Inc.
(NYSE: BXP), a real estate investment trust, announced today that its
operating partnership, Boston Properties Limited Partnership, has priced an
offering of $750 million in aggregate principal amount of its 6.25% senior
unsecured notes due January 15th, 2013. The notes were priced at 99.65% of
their face amount to yield 6.296%. The Company intends to use the net
proceeds from the offering to repay the unsecured bridge loan it used to fund
its acquisition of 399 Park Avenue in midtown Manhattan on September 25, 2002
and for other general business purposes. Closing of the offering is expected
to occur on December 13, 2002.
The notes have been offered only to qualified institutional buyers in the
United States under Rule 144A under the Securities Act of 1933, as amended
(the "Securities Act"), and certain institutional investors outside of the
United States under Regulation S under the Securities Act. The offering of
the notes has not been registered under the Securities Act or any state
securities laws and the notes may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state securities laws. In
connection with the offering, the Company has agreed, subject to certain terms
and conditions, to subsequently file an exchange offer registration statement
under the Securities Act in order to effect the exchange of the unregistered
notes for substantially identical registered notes.
This press release does not and will not constitute an offer to sell or
the solicitation of an offer to buy the notes. This press release is being
issued pursuant to and in accordance with Rule 135c under the Securities Act.
Boston Properties is a fully integrated, self-administered and self-
managed real estate investment trust that develops, redevelops, acquires,
manages, operates and owns a diverse portfolio of Class-A office, industrial
and hotel properties. The Company is one of the largest owners and developers
of Class-A office properties in the United States, concentrated in four core
markets -- Boston, Midtown Manhattan, Washington, DC and San Francisco.
This press release contains forward-looking statements within the meaning
of the Federal securities laws. You should exercise caution in interpreting
and relying on forward-looking statements because they involve known and
unknown risks, uncertainties and other factors which are, in some cases,
beyond Boston Properties' control and could materially affect actual results,
performance or achievements. These factors include, without limitation, that
the closing of the aforementioned offering is subject to, among other things,
standard closing conditions, and other risks and uncertainties detailed from
time to time in the company's filings with the Securities and Exchange
Commission.
Visit the Company's web site at http://www.bostonproperties.com . Also
see http://www.frbinc.com .
SOURCE Boston Properties, Inc.
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Related links:
http://www.frbinc.com
http://www.bostonproperties.com
CONTACT:
Douglas T. Linde, Chief Financial Officer, of
Boston Properties, +1-617-236-3300; or General Info., Marilynn
Meek, +1-212-445-8451, or Media, Suzie Pileggi, +1-212-445-8170,
both of FRB Weber Shandwick
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