| Issuer / Guarantor | Piedmont Operating Partnership LP |
|---|---|
| Size | USD 200mn |
| Type | Convertible |
| Leads | JP Morgan, Morgan Stanley |
| Maturity | 01 Feb 2031 (4.4 years) |
| Coupon | 2.375 - 2.875% |
| Premium | 35 - 40% |
| Calls | NC2.5; PC @ 130% w table MW |
| Puts | t/o @ 100% |
| Div protection | Ratio adjustment (for excess above threshold) |
| T/o protection | Make-whole table |
| CoCo | 130% to Oct 2030 (4.1 yrs) |
| Announced | 14 Sep 2026 |