Brandywine Operating Partnership and Brandywine Realty Trust’s $200 Million Senior Notes Offering

Simpson Thacher represented Citigroup Global Markets Inc., BofA Securities, Inc. and the other underwriters in connection with a $200 million offering of senior notes by Brandywine Operating Partnership, L.P.

The securities are guaranteed by Brandywine Realty Trust, the parent company of Brandywine. Brandywine offered and sold $100 million in aggregate principal amount of its 4.1% Guaranteed Notes due 2024 and $100 million in aggregate principal amount of its 4.55% Guaranteed Notes due 2029. The net proceeds from the offering were used to reduce outstanding borrowings under its unsecured revolving credit facility and for general corporate purposes.

Brandywine is one of the largest publicly traded real estate companies in the United States, with a portfolio comprising 180 properties and 24.9 million square feet as of June 30, 2019.

The joint book-running managers for the offering are Citigroup Global Markets Inc., BofA Securities, Inc., Barclays Capital Inc., and Wells Fargo Securities, LLC. The senior co-managers for the offering are BMO Capital Markets Corp., BNY Mellon Capital Markets, LLC, Capital One Securities, Inc., PNC Capital Markets LLC, RBC Capital Markets, LLC, Stifel, Nicolaus & Company, Incorporated, SunTrust Robinson Humphrey, Inc., and U.S. Bancorp Investments, Inc. The co-managers for the offering are BB&T Capital Markets, a division of BB&T Securities, LLC, Firstrust Savings Bank, KeyBanc Capital Markets Inc., Samuel A. Ramirez & Company, Inc., Santander Investment Securities Inc., Synovus Securities, Inc., and TD Securities (USA) LLC.

The Simpson Thacher team included Mark Brod (Picture) and Seth Lowinger (Capital Markets); Jonathan Cantor and Abigail Hopper (Tax); Michael Isby (Environmental); Tim Gallagher (Real Estate); Pasco Struhs (Executive Compensation and Employee Benefits); and Jennie Getsin (Blue Sky).

Involved fees earner: Mark Brod – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Timothy Gallagher – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Abigail Hopper – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Seth Lowinger – Simpson Thacher & Bartlett; Pasco Struhs – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Bank of America Securities; Barclays Capital ; BB&T Capital Markets; BB&T Securities, LLC; BMO Capital Markets; BNY Mellon; Capital One; Citigroup Global Markets Ltd; Firstrust Savings Bank; KeyBanc Capital Markets; PNC Capital Markets LLC; RBC Capital Markets; Samuel A. Ramirez & Company, Inc.; Santander Investment Securities Inc.; Stifel, Nicolaus & Company, Incorporated; SunTrust Robinson Humphrey, Inc.; Synovus Securities, Inc.; TD Securities; U.S. Bancorp Investments; Wells Fargo Securities;