Piedmont Realty Trust Plans $200 Million Exchangeable Notes Offering, to Redeem 9.250% Notes Due 2028

08:45 AM EDT, 09/14/2026 (MT Newswires) -- Piedmont Office Realty Trust (PDM) said Monday that its operating partnership intends to offer $200 million of exchangeable senior notes due 2031 in a private placement to qualified institutional buyers. The company said it expects to grant initial purchasers an option for up to an additional $30.0 million of notes. Proceeds, along with other funding sources, will be used to redeem all outstanding 9.250% senior notes due 2028 and pay related costs, it said. Up to approximately $50.0 million may also be used to repurchase Piedmont common shares from certain note purchasers, it added.