BXP · 10-Q · 2026Q3 · Full report
Senior Notes Issuance
BXP, Inc. · 2026-11-06 · Importance 52 · Surprise 42 · No source text
On August 31, 2026, BPLP issued $700.0 million of unsecured senior notes bearing 6.050% interest and due October 15, 2036, with net proceeds of approximately $692.4 million. On October 1, 2026, BPLP repaid $1.0 billion of 2.750% senior notes at maturity using available cash and proceeds from the offering. At September 30, 2026, 12.19% of consolidated debt was floating-rate debt, with a weighted-average stated rate of 4.55%; commercial paper outstanding at October 30, 2026 carried a weighted-average rate of approximately 4.22%. The $2.3 billion mortgage debt secured by 767 Fifth Avenue matures in June 2027, and management expects to refinance or extend it, but gives no assurance of favorable terms or successful refinancing.
Key facts
- BPLP completed a public offering on August 31, 2026, of $700.0 million of 6.050% unsecured senior notes due 2036, priced at 99.837% of principal to yield an effective rate of approximately 6.162% per annum.
- BXP issued $700.0 million aggregate principal of 6.050% unsecured senior notes due 2036 on August 31, 2026; the issuance increased nine-month interest expense by $3.654 million.
- The $700.0 million BPLP senior notes mature on October 15, 2036, unless earlier redeemed, and generated approximately $692.4 million of net proceeds.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | realized | -2.7% | The $700.0 million BPLP senior notes mature on October 15, 2036, unless earlier redeemed, and generated approximately $692.4 million of… |
| net_income | negative | committed | -1.4% | BPLP completed a public offering on August 31, 2026, of $700.0 million of 6.050% unsecured senior notes due 2036, priced at 99.837% of… |
| net_income | negative | realized | -0.1% | BXP issued $700.0 million aggregate principal of 6.050% unsecured senior notes due 2036 on August 31, 2026; the issuance increased… |