Government Properties Income Trust Prices Offering of 13,500,000 Common Shares

NEWTON, Mass.--()--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:

  • 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.
  • 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.
  • 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.

Contacts

Government Properties Income Trust
Jason Fredette, 617-219-1410
Director, Investor Relations

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Contacts

Government Properties Income Trust
Jason Fredette, 617-219-1410
Director, Investor Relations