Real estate investment trust Boston Properties Inc. has announced the redemption price for the $700 million in aggregate principal amount of 6.25 percent senior notes due 2013.

The notes issued by its operating partnership, Boston Properties Limited Partnership, are being redeemed on Dec. 12. The redemption price was determined in accordance with the applicable indenture and will be approximately $793.1 million. The redemption price includes approximately $17.9 million of accrued and unpaid interest to, but not including, the redemption date. Excluding such accrued and unpaid interest, the redemption price is approximately 110.75 percent of the principal amount being redeemed.

In addition, on Nov. 29, the company entered into two Treasury lock agreements to fix the yield on the U.S. Treasury issue used in determining the redemption price on notional amounts aggregating $700 million. The company expects to cash-settle the Treasury lock agreements on Dec. 9 and pay approximately $2.1 million.

As a result of the payment of the redemption premium and the settlement of the Treasury locks, the company expects to recognize an aggregate loss on extinguishment of debt during the fourth quarter of 2010 of approximately $78.5 million.

There is currently an aggregate of $925 million of such notes outstanding and, following the partial redemption, there will be an aggregate of $225 million of such notes outstanding.