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Piedmont Operating selling $250 million 10-year senior notes Monday
By Andrea Heisinger
New York, May 6 - Piedmont Operating Partnership LP is expected to sell $250 million of guaranteed 10-year senior notes (Baa2/BBB/) in Monday's market, according to a market source and a press release.
The sale is being done under Rule 144A and Regulation S.
Bookrunners are J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and U.S. Bancorp Investments Inc.
The notes are guaranteed by Piedmont Office Realty Trust Inc.
Proceeds will be used to repay short-term debt recently incurred to fund two property acquisitions and for general corporate purposes.
The real estate investment trust for properties in the 10 largest U.S. markets is based in Atlanta.
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