Office Properties Income Trust Misses $1.8M Interest Payment

Office Properties Income Trust didn’t make the required interest payment on Oct. 15 due on its 3.450% senior notes maturing in 2031, according to an SEC filing.

• The US-based real estate investment trust says in the filing that it has a 30-day grace period to make the required payment before the non-payment constitutes an event of default
  • Adds that it continues to work with its advisors to pursue restructuring efforts
• NOTE: S&P Global Ratings downgraded the company to selective default on Oct. 2 after it announced last month that it didn’t make the required interest payments on its senior ...