ATLANTA--(BUSINESS WIRE)--
Columbia
Property Trust, Inc. (the “Company”) (NYSE: CXP) today announced
that its operating partnership, Columbia Property Trust Operating
Partnership, L.P., has priced a public offering of $350 million
aggregate principal amount of 3.650% senior unsecured notes due August
15, 2026, at a price of $996.26 per $1,000 in principal amount.
Columbia intends to use the net proceeds from this offering to redeem
its $250 million aggregate principal amount of 5.875% senior unsecured
notes due April 1, 2018, with any remaining proceeds for general
corporate purposes, which may include the repayment of borrowings under
Columbia’s revolving credit facility. The offering is expected to close
on August 12, 2016, subject to customary closing conditions. The notes
will be fully and unconditionally guaranteed on a senior unsecured basis
by the Company.
J.P. Morgan, Morgan Stanley, Wells Fargo Securities, Jefferies and US
Bancorp are acting as joint book-running managers, with Goldman, Sachs &
Co.; MUFG; Regions Securities LLC; BBVA; BMO Capital Markets; Capital
One Securities; Comerica Securities; Fifth Third Securities; SMBC Nikko;
and TD Securities acting as co-managers.
The offering may be made only by means of a prospectus supplement and
accompanying prospectus. Copies of these documents may be obtained by
contacting any of the following:
-
J.P. Morgan Securities LLC; 383 Madison Avenue, New York, New York
10179, Attention: Investment Grade Syndicate Desk – 3rd
Floor; telephone: (212) 834-4533 (collect);
-
Morgan Stanley; 180 Varick Street, New York, New York 10014,
Attention: Prospectus Department; telephone (866) 718-1649 (toll
free): or
-
Wells Fargo Securities, LLC; 608 2nd Avenue South, Suite
1000, Minneapolis, Minnesota 55402, Attention: WFS Customer Service;
telephone (800) 645-3751 (toll free); email: [email protected].
Electronic copies of the prospectus supplement and accompanying
prospectus are also available from the Securities and Exchange
Commission’s website at www.sec.gov.
A shelf registration statement relating to these securities became
effective upon filing with the Securities and Exchange Commission. This
press release does not constitute an offer to sell or a solicitation of
an offer to buy the securities described herein, nor shall there be any
sale of these securities, in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
About Columbia Property Trust
Columbia Property Trust owns and operates Class-A office buildings in
competitive, primarily CBD locations, and over half our investments are
in high-barrier-to-entry, primary markets. Our $5 billion portfolio
includes 25 office properties containing 12.7 million square feet and
one hotel, concentrated in San Francisco, New York, and Washington, D.C.
Forward-Looking Statements:
Certain statements contained in this press release other than
historical facts may be considered forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. We intend for all such
forward-looking statements to be covered by the applicable safe harbor
provisions for forward-looking statements contained in those acts. Such
statements include, in particular, statements about our plans,
strategies, and prospects and are subject to certain risks and
uncertainties, including known and unknown risks, which could cause
actual results to differ materially from those projected or anticipated.
Therefore, such statements are not intended to be a guarantee of our
performance in future periods. Such forward-looking statements can
generally be identified by our use of forward-looking terminology such
as "may," "will," "expect," "intend," "anticipate," "estimate,"
"believe," "continue," or other similar words. Readers are cautioned not
to place undue reliance on these forward-looking statements, which speak
only as of the date of this press release. We make no representations or
warranties (express or implied) about the accuracy of any such
forward-looking statements contained in this press release, and we do
not intend to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, or otherwise.
Any such forward-looking statements are subject to risks,
uncertainties, and other factors and are based on a number of
assumptions involving judgments with respect to, among other things,
future economic, competitive, and market conditions, all of which are
difficult or impossible to predict accurately. To the extent that our
assumptions differ from actual conditions, our ability to accurately
anticipate results expressed in such forward-looking statements,
including our ability to generate positive cash flow from operations,
make distributions to stockholders, and maintain the value of our real
estate properties, may be significantly hindered. See Item 1A in the
Company's most recently filed Annual Report on Form 10-K for the year
ended December 31, 2015, for a discussion of some of the risks and
uncertainties that could cause actual results to differ materially from
those presented in our forward-looking statements. The risk factors
described in our Annual Report are not the only ones we face, but do
represent those risks and uncertainties that we believe are material to
us. Additional risks and uncertainties not currently known to us or that
we currently deem immaterial may also harm our business.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160803006810/en/
Columbia Property Trust, Inc.
Media Contact:
Bud
Perrone, 212-843-8068
[email protected]
or
Investor
Relations:
Matt Stover, 404-465-2227
[email protected]
Source: Columbia Property Trust, Inc.