The refinancing cost the REIT $9.6 million, as it had $990.4 million to pay off two credit lines and two interest-rate swaps.
The new paper, managed by Citgroup Global Markets Inc. and J.P. Morgan Securities Inc., has been rated Baa1 by Moody's, BBB+ by Standard & Poors and BBB+ by Fitch.
Credit facilities totaling $334 million carried an interest rate of 6.11%, according to Equity Office Properties Trust's most recent supplemental earnings report. The new debt also is 5 basis points below the effective rate for its debt that matures in 2004.
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