2013-05-06 14:44:03 -
ATLANTA - May 6, 2013 - Piedmont Office Realty Trust, Inc. (the "Company")
(NYSE:PDM) announced today that its operating partnership, Piedmont Operating
Partnership, LP (the "Operating Partnership"), intends to offer $250 million
aggregate principal amount of senior unsecured notes due 2023 (the "Notes") in a
private offering that is exempt from the registration requirements of the
Securities Act of 1933, as amended (the "Securities Act").
The Notes will be fully and unconditionally guaranteed on a senior unsecured
basis by the Company. The Operating Partnership intends to use the net proceeds
from the offering of the Notes to repay short-term indebtedness recently
incurred to fund two property acquisitions and for general corporate purposes.
The Notes have not been registered under the Securities Act or the securities
laws of any state and may
not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements under
the Securities Act and any applicable securities laws.
This press release is neither an offer to purchase nor a solicitation of an
offer to sell the Notes, nor shall it constitute an offer, solicitation or sale
in any jurisdiction in which such offer, solicitation or sale is unlawful.
Piedmont Office Realty Trust, Inc. (NYSE: PDM) is a fully-integrated and self-
managed real estate investment trust (REIT) specializing in high-quality, Class
A office properties located primarily in the ten largest U.S. office markets,
including Chicago, Washington, D.C., New York, Boston, Los Angeles and Dallas.
This press release contains "forward-looking statements" within the meaning of
the federal securities laws. Forward-looking statements include statements
preceded by, followed by, or that include the words "may," "will,"
"intend," "anticipate," "estimate," "believe,"
"continue," or other similar
words. These forward-looking statements are based on beliefs and assumptions of
management, which in turn are based on information available at the time the
statements are made. Examples of forward-looking statements include statements
relating to the completion of the proposed offering of Notes and the use of
proceeds therefrom. The forward-looking statements involve risks and
uncertainties, which could cause actual results to differ materially from those
contained in any forward-looking statement. Many of these factors are beyond the
Company's ability to control or predict. Such factors include, but are not
limited to, the following: market and economic conditions remain challenging and
the demand for office space, rental rates and property values may continue to
lag the general economic recovery, causing the Company's business, results of
operations, cash flows, financial condition and access to capital to be
adversely affected or otherwise impact performance, including the potential
recognition of impairment charges; the success of the Company's real estate
strategies and investment objectives, including the Company's ability to
identify and consummate suitable acquisitions; lease terminations or lease
defaults, particularly by one of the Company's large lead tenants; the impact of
competition on the Company's efforts to renew existing leases or re-let space on
terms similar to existing leases; changes in the economies and other conditions
of the office market in general and of the specific markets in which the Company
operates, particularly in Chicago, Washington, D.C., and the New York
metropolitan area; economic and regulatory changes, including accounting
standards, that impact the real estate market generally; additional risks and
costs associated with directly managing properties occupied by government
tenants; adverse market and economic conditions may continue to adversely affect
the Company and could cause the Company to recognize impairment charges or
otherwise impact the Company's performance; availability of financing and the
Company's lending banks' ability to honor existing line of credit commitments;
costs of complying with governmental laws and regulations; uncertainties
associated with environmental and other regulatory matters; potential changes in
political environment and reduction in federal and/or state funding of the
Company's governmental tenants; the Company may be subject to litigation, which
could have a material adverse effect on its financial condition; the Company's
ability to continue to qualify as a real estate investment trust under the
Internal Revenue Code of 1986, as amended; and other factors, including the risk
factors discussed under Item 1A of the Company's Annual Report on Form 10-K for
the year ended December 31, 2012.
Management believes these forward-looking statements are reasonable; however,
undue reliance should not be placed on any forward-looking statements, which are
based on current expectations. Further, forward-looking statements speak only as
of the date they are made, and management undertakes no obligation to update
publicly any of them in light of new information or future events.
Contact: Kerry Hughes
Company: Piedmont Office Realty Trust
Phone: 1 770 418 8678
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Source: Piedmont Office Realty Trust, Inc. via Thomson Reuters ONE