Piedmont Realty Trust Prices $200M 2.875% Exchangeable Notes Due 2031

What Happened
Piedmont Realty Trust, Inc. announced on September 14, 2026 that its operating partnership, Piedmont Operating Partnership, LP, priced an offering of $200,000,000 aggregate principal amount of 2.875% exchangeable senior notes due 2031. The notes were offered to purchasers believed to be qualified institutional buyers under Rule 144A, and the company will fully and unconditionally guarantee the notes on a senior, unsecured basis. The issuance and sale are expected to settle on September 17, 2026, subject to customary closing conditions. A press release dated September 14, 2026 is attached as Exhibit 99.1 to the Form 8-K.

Key Details

• $200,000,000 aggregate principal amount of exchangeable senior notes priced.
• Coupon: 2.875% per annum; Maturity: 2031.
• Offered to qualified institutional buyers pursuant to Rule 144A.
• Piedmont Realty Trust will fully and unconditionally guarantee the notes on a senior, unsecured basis; settlement expected Sept. 17, 2026 (subject to closing conditions).

Why It Matters
This financing raises $200 million of capital for Piedmont’s operating partnership under a long-term, low fixed interest rate (2.875% through 2031). The company guarantee makes the notes a senior unsecured obligation of Piedmont Realty Trust, which can affect the company’s debt profile and interest obligations. Investors should note the timing (settlement Sept. 17, 2026) and that the offering was targeted to institutional buyers under Rule 144A; additional terms (such as exchange mechanics) were not detailed in the 8-K. The press release is filed as Exhibit 99.1 for more information.