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Business

COPT issuing $350 million in debt

FinanceCorporate Office Properties Trust Inc.

Corporate Office Properties Trust, the Columbia-based office real estate investment trust, is issuing $350 million in debt, the sale of which is expected to close next week, the company announced Thursday.

The senior unsecured notes are due in ten years and will pay 3.6 percent interest, according to a statement from COPT. The closing is expected on Monday, the firm said.

COPT's operating partnership plans to use the funds raised by the offering to repay borrowed funds and for general corporate purposes.

Fitch Ratings on Thursday assigned the debt a "secure" rating, indicating there is now a low expectation of COPT failing to make payments.

steve.kilar@baltsun.com

twitter.com/stevekilar

Copyright © 2014, The Baltimore Sun
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