PHYSICIANS REALTY TRUST : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant (form 8-K)
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Item 1.01. Entry into a Material Definitive Agreement.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On October 13, 2021, the Operating Partnership issued $500.0 million in aggregate principal amount of the Notes. The Operating Partnership offered the Notes at 99.789% of the principal amount thereof. The Notes are the senior unsecured indebtedness of the Operating Partnership and will rank equally in right of payment with all of the Operating Partnership's existing and future senior unsecured indebtedness. As a result, the Notes will be effectively subordinated in right of payment to all of the Operating Partnership's existing and future secured indebtedness (to the extent of the value of the collateral securing such indebtedness), and all mortgages, preferred equity and indebtedness and other liabilities, whether secured or unsecured, of the Operating Partnership's subsidiaries. The Notes bear interest at 2.625% per annum. Interest is payable on May 1 and November 1 of each year, commencing May 1, 2022, until the maturity date of November 1, 2031. The Operating Partnership's obligations under the Notes are fully and unconditionally guaranteed by the Trust. Copies of the Third Supplemental Indenture and the form of the Notes and guarantee of the Notes by the Trust, the terms of which are incorporated herein by reference, are attached as Exhibits 4.1 and 4.2, respectively, to this report. The Notes will be redeemable at the Operating Partnership's option and in its sole discretion, at any time or from time to time prior to August 1, 2031, in whole or in part, at a redemption price equal to the greater of: •100% of the principal amount of the Notes to be redeemed; or •the sum of the present values of the remaining scheduled payments of principal of, and interest on the Notes to be redeemed that would be due if the Notes matured on August 1, 2031 (three months prior to the stated maturity date of the Notes), exclusive of unpaid interest, if any, accrued to, but not including, the redemption date, discounted to such redemption date on a semi-annual basis (assuming a 360day year consisting of twelve 30-day months) at the treasury
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(d) Exhibits.
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