Real estate investment trust Boston Properties Inc. said Friday it will sell $700 million in senior unsecured notes due in 2020.
The company’s operating partnership, Boston Properties Limited Partnership, will sell the 5.625 percent notes, and the offering will close April 19.
Boston Properties said it expects to raise about $693.5 million, after deducting expenses, and will use proceeds for general business purposes that could include investment opportunities and debt reduction.
Banc of America Securities, J.P. Morgan Securities, Morgan Stanley & Co., Citigroup Global Markets, and Deutsche Bank Securities will act as joint bookrunning managers.
Shares rose 27 cents to $77.22 in morning trading. (AP)





