Office Properties Income Gets $125 Million of DIP Financing

OPI has received a commitment for $125 million in new money, debtor-in-possession financing from the September 2029 Ad Hoc Group to be syndicated to other holders of those notes, according to a statement.

• “We expect no disruptions to our business or properties during the pendency of the proceedings and expect OPI to emerge as a more stable and financially flexible company,” President and Chief Operating Officer Yael Duffy said
• Restructuring Support Agreement also considers new management arrangement with RMR Group for an initial term of five years
  • Throughout the process, RMR will continue to manage OPI’s business
• NOTE: Office Properties ...