Equity commonwealth announces redemption of $125 million 7.5% senior notes

Chicago--(business wire)--equity commonwealth (nyse: eqc) has redeemed in full and at par its $125 million 7.50% senior notes due 2019 (“notes”) on november 17, 2014. funding for the entire outstanding balance of these unsecured notes came from cash on hand. “we are pleased to have identified further opportunities to de-lever eqc’s balance sheet. we are focused on improving our capital structure and becoming more nimble and financially flexible as we reposition our portfolio for long-term growth,” commented adam markman, equity commonwealth’s executive vice president, chief financial officer and treasurer. in addition, eqc prepaid, at par, a $7.8 million 5.99% mortgage loan on october 31, 2014. about equity commonwealth equity commonwealth (nyse: eqc) is an internally managed and self-advised real estate investment trust (reit). eqc is one of the largest commercial office reits in the united states, with a portfolio of over 40 million square feet located in 30 states, dc and australia. forward-looking statements this press release may contain forward-looking statements and information within the meaning of the federal securities laws, including statements regarding our capital structure, financial flexibility and long-term growth. these statements are based on current expectations, estimates, projections and assumptions made by management. while equity commonwealth management believes the assumptions underlying its forward-looking statements are reasonable, such information is inherently subject to uncertainties and may involve certain risks. other risks and uncertainties are described under the heading “risk factors” in our annual report on form 10-k and subsequent periodic reports filed with the securities and exchange commission (sec) and available on our website, www.eqcre.com. many of these uncertainties and risks are difficult to predict and beyond management’s control. forward-looking statements are not guarantees of future performance, results or events. equity commonwealth assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
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