Boston Properties (NYSE:BXP) expects early redemption of notes to reduce Q4 earnings by about $16.5M, or about 10 cents per share.
Redemption price for $700M aggregate principal amount of 5.875% senior notes due 2019 issued by Boston Properties Limited Partnership will be about $722.6M, including about $6.6M of accrued and unpaid interest.
Redemption price, excluding accrued and unpaid interest, is about 102.28% of principal amount being redeemed.
BXP expects the impact of the redemption and related issuance in November 2018 of $1.0B of 4.500% senior notes due 2028 to reduce the company's projected 2019 net interest expense by about 1 cent per share.
