**BXP Expands Unsecured Credit Capacity to $2.95 Billion**
BXP, Inc. announced that its operating partnership, Boston Properties Limited Partnership (BPLP), has amended its unsecured revolving credit facility, extending the maturity date and increasing the borrowing capacity by $250 million—bringing the total to $2.25 billion. In addition, BPLP has extended its $700 million unsecured term loan facility and enlarged its unsecured commercial paper program by another $250 million, raising it to $750 million.
“The combination of these facilities with additional capacity and tenor provides enhanced liquidity at attractive pricing as we continue to invest opportunistically and strengthen our position as the market leader of premier workplaces, creating long-term value for our clients and shareholders,” said Mike LaBelle, Executive Vice President, Chief Financial Officer, and Treasurer of BXP. “The success of these transactions reflects our strong long-term relationships with our banking partners and their commitment to providing BXP with consistent access to capital.”
As of March 28, 2024, BPLP reported $500 million outstanding under its commercial paper program.
This expansion reflects BXP’s ongoing strategy to maintain financial flexibility while reinforcing its leadership in the premier real estate market.
