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BXP Upsizes Unsecured Credit Facility to $2.95B
BXP, Inc. said its operating partnership, Boston Properties Limited Partnership (BPLP), has amended its existing unsecured revolving credit facility to extend its maturity date and increase its revolver borrowing capacity by $250 million to $2.25 billion. It has also extended its $700-million unsecured term loan facility and increased the size of its unsecured commercial paper program by $250 million to $750 million.
“The combination of these facilities with additional capacity and tenor provides enhanced liquidity at attractive pricing as we continue to invest opportunistically and strengthen our position as the market leader of premier workplaces, creating long-term value for our clients and shareholders,” stated Mike LaBelle, EVP, CFO, & treasurer, BXP. “The success of these transactions reflects our strong long-term relationships with our banking partners and their commitment to providing BXP with consistent access to capital.”
As of March 28, BPLP had $500 million outstanding under its commercial paper program.
