Boston Properties Inc. said it will issue $700 million in senior unsecured notes due in 2036, according to a filing with the U.S. Securities and Exchange Commission.
The real estate investment trust plans to use proceeds from the offering for general corporate purposes, including the refinancing of existing debt and other potential investments. The company did not disclose pricing terms or the underwriters for the transaction in the filing.
Boston Properties, which owns and operates high-quality office properties in major U.S. markets, has increasingly relied on debt markets to manage its capital structure amid evolving real estate conditions. The 12-year tenor aligns with the company’s long-term financing strategy, providing stability while balancing liquidity needs.
The notes will rank pari passu with the company’s existing senior unsecured indebtedness. Proceeds from the issuance are not earmarked for any specific acquisition or development project at this time, the filing stated.
Boston Properties last tapped the debt markets in 2023, raising $500 million in a similar offering. The company’s leverage and liquidity position will be closely monitored as it executes this financing plan.
