CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) today announced that it is calling its 5.75% Senior Unsecured Notes due August 1, 2042 (the “Notes”) (NYSE: EQCO) for redemption on March 7, 2018 (the “Redemption Date”). The Notes will be redeemed for cash at a price equal to 100% of the principal amount of the Notes plus accrued and unpaid interest up to, but excluding, the Redemption Date (the “Redemption Price”). The aggregate principal outstanding of the Notes is $175,000,000.
From the Redemption Date forward, the Notes will no longer be deemed outstanding, interest will no longer accrue and holders will have no rights other than the right to receive the Redemption Price, without interest, upon surrender of the Notes. Payment of the Redemption Price will be made only upon presentation and surrender of the Notes to U.S. Bank, National Association, the trustee and paying agent, during its business hours at the address specified in the Notice of Redemption. The Notice of Redemption will be mailed to holders of the Notes on Monday, February 5, 2018. Questions regarding the Notice of Redemption should be directed to U.S. Bank, National Association, Bondholder Services at 800-934-6802.
About Equity Commonwealth
Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties throughout the United States. As of December 31, 2017, EQC’s same-property portfolio comprised 16 properties and 8.7 million square feet.
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This press release may contain forward-looking statements and information within the meaning of the federal securities laws. These statements are based on current expectations, estimates, projections and assumptions made by management. While Equity Commonwealth management believes the assumptions underlying its forward-looking statements are reasonable, such information is inherently subject to uncertainties and may involve certain risks. Other risks and uncertainties are described under the heading “Risk Factors” in our Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC) and available on our website, www.eqcre.com. Many of these uncertainties and risks are difficult to predict and beyond management’s control. Forward-looking statements are not guarantees of future performance, results or events. Equity Commonwealth assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.