BOSTON, Aug. 20 /PRNewswire-FirstCall/ -- Boston Properties, Inc.
(NYSE: BXP), a real estate investment trust, has designated its existing
automatic shelf registration statement on Form S-3 (File No. 333-132871)
(the "Registration Statement") as the shelf registration statement that it
intends to use to register the resale of shares of Boston Properties,
Inc.'s common stock (the "Registrable Securities") that may be issued,
under certain circumstances, upon exchange of Boston Properties Limited
Partnership's 3.625% Exchangeable Senior Notes due 2014 (the "Notes"). The
Notes will be exchangeable at the option of the holder at any time on and
after January 1, 2014 and prior to the close of business on the second
scheduled trading day immediately preceding February 15, 2014, which is the
maturity date of the Notes. Prior to January 1, 2014, the Notes will only
be exchangeable upon the occurrence of certain specified events described
in the applicable supplemental indenture.
The Notes are senior unsecured obligations of Boston Properties Limited
Partnership ("BPLP") that were originally sold on August 19, 2008 to
qualified institutional buyers in a private placement in reliance on Rule
144A under the Securities Act of 1933. On the same date, Boston Properties,
Inc., BPLP and the initial purchasers of the Notes executed a Registration
Rights Agreement, which requires the announcement of the designation of the
Registration Statement.
Boston Properties, Inc. intends to make a prospectus available for use
for the resale of any Registrable Securities on or before the date that
Registrable Securities are issued upon exchange of the Notes. Selling
securityholders identified in the prospectus, as supplemented, may use the
prospectus to offer and resell the Registrable Securities. Neither Boston
Properties, Inc. nor BPLP will receive any of the proceeds from the resale
of the Registrable Securities.
In accordance with the Registration Rights Agreement, holders of the
Registrable Securities that wish to use the Registration Statement to sell
Registrable Securities must prepare and deliver to Boston Properties, Inc.
a Notice and Questionnaire in advance of the issuance of the Registrable
Securities upon exchange of the Notes in order to be listed in the
prospectus. Copies of the Notice and Questionnaire are available by
contacting the Investor Relations Department of Boston Properties by
telephone at 617-236-3322 or e-mail irinfo@bostonproperties.com.
This release shall not constitute an offer to sell or the solicitation
of an offer to buy any of these securities, nor shall it constitute an
offer, solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful.
Boston Properties is a fully integrated, self-administered and
self-managed real estate investment trust that develops, redevelops,
acquires, manages, operates and owns a diverse portfolio consisting
primarily of Class A office properties and one hotel. The Company is one of
the largest owners and developers of Class A office properties in the
United States, concentrated in five select markets - Boston, Midtown
Manhattan, Washington, D.C., San Francisco, and Princeton, N.J. For more
information about Boston Properties, please visit the Company's web site at
http://www.bostonproperties.com.
This press release contains forward-looking statements within the
meaning of the Federal securities laws. You can identify these statements
by our use of the words "expects," "plans," "estimates," "projects,"
"intends," "believes" and similar expressions that do not relate to
historical matters. You should exercise caution in interpreting and relying
on forward-looking statements because they involve known and unknown risks,
uncertainties and other factors which are, in some cases, beyond Boston
Properties' control and could materially affect actual results, performance
or achievements. These factors include, without limitation, the ability of
our joint venture partners to satisfy their obligations, the ability to
enter into new leases or renew leases on favorable terms, dependence on
tenants' financial condition, the uncertainties of real estate development
and acquisition activity, the ability to effectively integrate
acquisitions, the costs and availability of financing, the effects of local
economic and market conditions, the impact of newly adopted accounting
principles on the Company's accounting policies and on period-to-period
comparisons of financial results, regulatory changes and other risks and
uncertainties detailed from time to time in the Company's filings with the
Securities and Exchange Commission. Boston Properties does not undertake a
duty to update or revise any forward-looking statement whether as a result
of new information, future events or otherwise.
See Also:
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- Kaleidico’s Lead Management Moves Beyond Mortgage-only CRM
[Via Real Estate Newswire]
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