HRPT Ups Offering to $400M

NEWTON, MA-HRPT Properties Trust priced an underwritten public offering of $400 million of 6.25% senior notes due 2016. The move comes a few hours after the locally based real estate investment trust had announced that it was commencing an offering of $250 million.

HRPT says the offering was originally marketed for $250 million, but the company and the underwriters determined to increase the offering by $150 million in response to investor interest. The settlement of this sale is expected to occur on August 5. HRPT intends to use the net proceeds of this offering to reduce amounts outstanding under its revolving credit facility.