Hudson Pacific Properties Announces Pricing of Public Offering of $350.0 Million Aggregate Principal Amount of Senior Notes Due 2028

By: Hudson Pacific Properties, Inc. via Business Wire

September 08, 2022 at 17:00 PM EDT

Hudson Pacific Properties, Inc. (“Hudson Pacific” or the “Company”) (NYSE: HPP), a unique provider of end-to-end real estate solutions for dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries, today announced that its operating partnership, Hudson Pacific Properties, L.P. (the “Operating Partnership”), has priced an underwritten public offering of $350.0 million aggregate principal amount of 5.950% senior notes due 2028. The notes will be senior unsecured obligations of the Operating Partnership and will be fully and unconditionally guaranteed by the Company. The notes were issued at 99.614% of par value, with a coupon of 5.950% and will mature on February 15, 2028. The offering is expected to close on September 15, 2022, subject to customary closing conditions.

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 this offering to Eligible Green Projects, the Operating Partnership intends to use the net proceeds from this 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. The preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available by visiting the EDGAR database on the SEC’s website at www.sec.gov.

Wells Fargo Securities, LLC, BofA Securities, Inc., KeyBanc Capital Markets Inc., U.S. Bancorp Investments, Inc. and RBC Capital Markets, LLC are acting as joint bookrunning managers for the offering. Barclays Capital Inc., Fifth Third Securities, Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, BMO Capital Markets Corp. and Regions Securities LLC are acting as senior co-managers for the offering. Samuel A. Ramirez & Company, Inc. and Siebert Williams Shank & Co., LLC are acting as co-managers for the offering. A copy of the preliminary prospectus supplement, final prospectus supplement (when available), and the accompanying prospectus relating to the offering of the notes may be obtained by contacting:

Wells Fargo Securities, LLC

608 2nd Avenue South, Suite 1000

Minneapolis, MN 55402

Attention: WFS Customer Service

Toll-free: 1-800-645-3751

Email: wfscustomerservice@wellsfargo.com

BofA Securities, Inc.

NC1-004-03-43

200 North College Street, 3rd Floor

Charlotte, NC 28255-0001

Attention: Prospectus Department

Toll-free: 1-800-294-1322

Email: dg.prospectus_requests@bofa.com

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/20220908006110/en/

Contacts

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

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Hudson Pacific Properties Announces Pricing of Public Offering of $350.0 Million Aggregate Principal Amount of Senior Notes Due 2028

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