NEWTON, Mass.--(BUSINESS WIRE)--
Government Properties Income Trust (NYSE: GOV) today announced that it
priced a public offering of 13,500,000 common shares at a price to the
public of $23.50 per share. The settlement of this offering is expected
to occur on July 29, 2014. GOV expects to use the net proceeds of this
offering to partially repay amounts outstanding under its new $500
million term loan. The underwriters were granted a 30-day option to
purchase up to an additional 2,025,000 common shares.
The joint book-running managers for this offering are Citigroup, BofA
Merrill Lynch and Morgan Stanley. The co-lead managers for this offering
are Jefferies, RBC Capital Markets and UBS Investment Bank.
This press release is neither an offer to sell nor 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 any such state or jurisdiction. The prospectus supplement
relating to the offering and related prospectus are expected to be filed
with the Securities and Exchange Commission, and copies can be obtained
by contacting the offices of: Citigroup, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800)
831-9146; BofA Merrill Lynch, Attention: Prospectus Department, 222
Broadway, New York, NY 10038, email: dg.prospectus_requests@baml.com; or
Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd
floor, New York, NY, 10014.
Government Properties Income Trust is a real estate investment trust, or
REIT, which primarily owns properties leased to the U.S. Government and
state governments located throughout the United States. GOV is
headquartered in Newton, MA.
WARNING CONCERNING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE
MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON
GOV'S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE STATEMENTS ARE NOT
GUARANTEED. FOR EXAMPLE:
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THIS PRESS RELEASE STATES THAT THE COMPANY EXPECTS THE SETTLEMENT OF
THE COMMON SHARES TO OCCUR ON JULY 29, 2014. IN FACT, THE ISSUANCE AND
DELIVERY OF THE COMMON SHARES IS SUBJECT TO VARIOUS CONDITIONS AND
CONTINGENCIES AS ARE CUSTOMARY IN UNDERWRITING AGREEMENTS IN THE
UNITED STATES. IF THESE CONDITIONS ARE NOT SATISFIED OR THE SPECIFIED
CONTINGENCIES DO NOT OCCUR, THIS OFFERING MAY NOT CLOSE.
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GOV'S CURRENT INTENT TO USE THE NET PROCEEDS OF THE OFFERING TO
PARTIALLY REPAY AMOUNTS OUTSTANDING UNDER ITS NEW TERM LOAN WILL BE
DEPENDENT ON THE CLOSING OF THE OFFERING AND MAY NOT OCCUR.
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THIS PRESS RELEASE STATES THAT THE UNDERWRITERS WERE GRANTED AN OPTION
TO PURCHASE UP TO AN ADDITIONAL 2,025,000 COMMON SHARES. AN
IMPLICATION OF THIS STATEMENT MAY BE THAT THIS OPTION MAY BE EXERCISED
IN WHOLE OR IN PART. IN FACT, GOV DOES NOT KNOW WHETHER THE
UNDERWRITERS WOULD EXERCISE THIS OPTION, OR ANY PART OF IT.
FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE
UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.
A Maryland Real Estate Investment Trust with transferable shares of
beneficial interest listed on the New York Stock Exchange.
No
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
Government Properties Income Trust
Jason Fredette, 617-219-1410
Director,
Investor Relations
Source: Government Properties Income Trust
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