Investor Presentaiton
As of September 30, 2023
(dollars in thousands)
OFFICE PROPERTIES INCOME TRUST
DEBT SUMMARY
Coupon
Rate (1)
Interest
Rate (2)
Principal
Balance
Maturity Date
Due at
Maturity
Years to
Maturity
Unsecured Floating Rate Debt:
$750,000 unsecured revolving credit facility (3)
6.850%
6.850% $ 200,000
1/31/2024
$
200,000
0.3
Unsecured Fixed Rate Debt:
Senior unsecured notes due 2024
4.250%
4.404%
350,000
5/15/2024
350,000
0.6
Senior unsecured notes due 2025
4.500%
4.521%
650,000
2/1/2025
650,000
1.3
Senior unsecured notes due 2026
2.650%
2.815%
300,000
6/15/2026
300,000
2.7
Senior unsecured notes due 2027
2.400%
2.541%
350,000
2/1/2027
350,000
3.3
Senior unsecured notes due 2031
3.450%
3.550%
400,000
10/15/2031
400,000
8.0
Senior unsecured notes due 2050
6.375%
6.375%
162,000
6/23/2050
162,000
26.7
Subtotal/weighted average
3.825%
3.918%
2,212,000
2,212,000
4.8
Secured Fixed Rate Debt:
Mortgage debt - One property
8.272%
8.272%
42,700
7/1/2028
42,700
4.8
Mortgage debt - One property
8.139%
8.139%
26,340
7/1/2028
26,340
4.8
Mortgage debt - Two properties
7.671%
7.671%
54,300
10/6/2028
54,300
5.0
Mortgage debt - One property
7.210%
7.210%
30,680
7/1/2033
29,105
9.8
Mortgage debt - One property
7.305%
7.305%
8,400
7/1/2033
8,400
9.8
Mortgage debt - One property
7.717%
7.717%
Subtotal/weighted average
7.792%
7.792%
14,900
177,320
9/1/2033
14,900
9.9
175,745
6.4
Total weighted average
4.330%
4.410%
$ 2,589,320
$ 2,587,745
4.5
(1) Reflects the interest rate stated in, or determined pursuant to, the contract terms.
(2) Includes the effect of discounts and premiums on senior unsecured notes. Excludes the effect of debt issuance costs amortization.
(3) OPI is required to pay interest at a rate of SOFR plus a premium, which was 145 basis points per annum as of September 30, 2023. OPI also pays a facility fee, which was 30
basis points per annum on the total amount of lending commitments under its revolving credit facility as of September 30, 2023. Both the interest rate premium and facility
fee are subject to adjustment based upon changes to OPI's credit ratings. The interest rate listed is as of September 30, 2023 and excludes the 30 basis point facility fee.
18View entire presentation