Hudson Pacific Properties Announces Public Green Bond Offering

Rhea-AI Summary

Hudson Pacific Properties (NYSE: HPP) announced its operating partnership has initiated an underwritten public offering of senior notes, which will be fully guaranteed by the Company. The net proceeds will finance Eligible Green Projects, such as green buildings and renewable energy, or repay existing debt, including the acquisition of Quixote Studios. The offering is made under a shelf registration statement with the SEC, and a prospectus will be available. The Company focuses on real estate investments catering to tech and media sectors, emphasizing sustainable development.

Positive

• Net proceeds allocated for Eligible Green Projects, supporting sustainability.
• Funds may be used to refinance existing debt, potentially improving financial stability.

Negative

• Debt offerings may lead to shareholder dilution.
• Market reaction could be cautious due to potential financial risks.

LOS ANGELES--(BUSINESS WIRE)-- Hudson Pacific Properties, Inc. (“Hudson Pacific” or the “Company”) (NYSE: HPP), today announced that its operating partnership, Hudson Pacific Properties, L.P. (the “Operating Partnership”), has commenced an underwritten public offering of senior notes. The notes will be senior unsecured obligations of the Operating Partnership and will be fully and unconditionally guaranteed by the Company.

The Operating Partnership intends to allocate an amount equal to the net proceeds to finance and/or refinance, in whole or in part, new or existing Eligible Green Projects in the following categories: green buildings, renewable energy, energy efficiency and/or clean transportation. Pending the allocation of an amount equal to the net proceeds from the offering to Eligible Green Projects, the Operating Partnership intends to use the net proceeds from the offering to repay amounts outstanding from time to time under its revolving credit facility (including amounts borrowed to finance the initial consideration for the acquisition of Quixote Studios) and/or other indebtedness.

The offering of the notes will be made under an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) and only by means of a prospectus and prospectus supplement. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available by visiting the EDGAR database on the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes or any other securities, nor shall there be any offer, solicitation or sale of the notes or any other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Hudson Pacific Properties

Hudson Pacific (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific’s unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events, or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by the Company from time to time with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220907006332/en/

Investor Contact

Laura Campbell

Executive Vice President, Investor Relations & Marketing

(310) 622-1702

lcampbell@hudsonppi.com

Media Contact

Laura Murray

Senior Director, Communications

(310) 622-1781

lmurray@hudsonppi.com

Source: Hudson Pacific Properties, Inc.

FAQ

What are the details of Hudson Pacific Properties' public offering on NYSE:HPP?

Hudson Pacific Properties has launched a public offering of senior notes, which will be fully guaranteed by the Company. The offering's proceeds will support green projects or repay debt.

When was the public offering by Hudson Pacific Properties announced?

The public offering was announced by Hudson Pacific Properties on [insert announcement date from PR].

How will the proceeds from the offering be used by Hudson Pacific Properties?

The proceeds will finance Eligible Green Projects like renewable energy or repay existing debt, including amounts related to Quixote Studios acquisition.

What is the impact of the offering on Hudson Pacific Properties' shareholders?

The offering may lead to shareholder dilution, which could affect stock valuation and investor sentiment.