NEWTON, Mass.--(BUSINESS WIRE)--Office Properties Income Trust (Nasdaq: OPI) today announced that it has priced an underwritten public offering of $150 million of 6.375% senior notes due 2050. The settlement of this offering is expected to occur on June 23, 2020, subject to customary closing conditions.

OPI expects to use the net proceeds from this offering to repay amounts outstanding under its revolving credit facility and for general business purposes, which may include repaying $39.9 million of mortgage debt secured by one property, that has an annual interest rate of 3.6% as of March 31, 2020 and matures in August 2020. OPI granted the underwriters an option to purchase up to $22.5 million of additional Notes within 30 days. OPI intends to apply to list the Notes on the Nasdaq Stock Market under the symbol “OPINL” and, if approved, expects trading to begin within 30 days of the original issue date of the Notes.

The joint book-running managers for the offering are BofA Securities, Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, UBS Securities LLC and Wells Fargo Securities, LLC. The co-managers for the offering are BB&T Capital Markets, a division of BB&T Securities, LLC, Janney Montgomery Scott LLC, JMP Securities LLC, Oppenheimer & Co. Inc., Regions Securities LLC, Robert W. Baird & Co. Incorporated and U.S. Bancorp Investments, Inc.

This offering is being made pursuant to an effective shelf registration statement and prospectus and a related preliminary prospectus supplement filed by OPI with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. Copies of the prospectus supplement relating to this offering and the related prospectus may be obtained by contacting the offices of: BofA Securities, Inc. toll-free at 1-800-294-1322, Citigroup Global Markets Inc. toll-free at 1-800-831-9146, Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, RBC Capital Markets, LLC toll-free at 1-866-375-6829, UBS Securities LLC toll-free at 1-888-827-7275, and Wells Fargo Securities, LLC toll-free at 1-800-645-3751.

Office Properties Income Trust is a real estate investment trust, or REIT, focused on owning, operating and leasing properties primarily leased to single tenants and those with high credit quality characteristics such as government entities. OPI is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.