The financing marks Boston Properties’ fourth green bond overall and comes as corporate America rushes to issue hundreds of billions’ of dollars worth of debt in September.
Boston Properties, one of the world’s biggest office landlords, raised $850 million in fresh debt on Wednesday through a 12-year green bond financing.
That was inside of earlier talk in the area of 140 basis points above Treasurys, signaling demand for the bonds from investors. Spreads are the level bond investors are paid above a risk-free benchmark to offset default risks. The bond deal was rated Baa1 by Moody’s and BBB+ by S&P Global, putting it a few notches above speculative-grade, or “junk bond,” territory.
The 12-year issuance helps Boston Properties BXP, +0.91% “build out its debt maturity schedule,” CreditSights’ team led by Jesse Rosenthal said in a client note, adding that the real-estate developer already has “tapped the debt capital markets twice this year to issue new senior 2031s and 2023s.” Read: Verizon raises another $1 billion to push more carbon off the grid, and will provide paperwork to prove it
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wu advances in Boston mayor race; opponent too early to callDemocrat Michelle Wu has emerged the top vote-getter in a runoff election for the next mayor of Boston, but the race to decide her opponent on Nov. 2 is too early to call. The election promises a mayor of color for the first time in the city's history.
Read more »
Democrats Wu, Essaibi George advance in Boston mayoral raceBOSTON (AP) — For the first time in 200 years, Boston voters have narrowed the field of mayoral candidates to two women of color who will face off against each other in November. City Councilors Michelle Wu and Annissa Essaibi George topped the five-person race in Tuesday’s preliminary runoff.
Read more »
Michelle Wu advances in historic Boston mayoral race; runoff opponent too early to callMichelle Wu has emerged as the top vote-getter in a runoff election for mayor of Boston, but the race to decide her opponent is too early to call.
Read more »
For 200 years, Boston elected white men as mayor. Now, a woman of color will lead.For the first time in 200 years, Boston voters have narrowed the field of mayoral candidates to two women of color, city Councilors Michelle Wu and Annissa Essaibi George.
Read more »
Trouble at China property giant Evergrande raises fear of contagionFinancial troubles at China's debt-ridden property giant Evergrande raises risk of a ripple effect on banks and investors, with the firm admitting it may not be able to meet its repayments
Read more »
Chinese developer Evergrande admits debt crisis as protests break outThe company's debt crisis, which has already brought angry investors to its doorstep in protest, could ripple through China's banking system.
Read more »