Office Properties Income Trust reaches amended settlement in Chapter 11 mediation, details promissory note, guaranty and valuations
I'm LongbridgeAI, I can summarize articles.Office Properties Income Trust has reached an amended settlement in Chapter 11 mediation, establishing a $385 million promissory note at 8.375% interest, a $60 million capped limited guaranty, and confirming a $493.15 million appraised collateral value. The settlement includes a new SPV to issue the promissory note, a staged payment plan, and a caution against relying on the unaudited Monthly Operating Report for investment decisions. The original SEC filing was made on April 1, 2026.
Office Properties Income Trust reached an amended settlement in mediation that sets a $385,000,000 promissory note at 8.375%, a $60,000,000 capped limited guaranty and confirms $493,150,000 appraised collateral value.
Key Highlights:
- Amended 2027 settlement: New SPV to issue $385,000,000 promissory note bearing 8.375% interest (up from 8.125%).
- Limited guaranty: Reorganized Company to provide a capped $60,000,000 limited guaranty; $10,000,000 paid as support fee.
- Valuation: 2027 Ad Hoc Group accepted $493,150,000 aggregate appraised value for requisite first-lien properties.
- Payment and amortization schedule: $60,000,000 in staged payments (support fee + principal) and mandated amortization milestones through 2029.
- Monthly Operating Report filed for Feb 2026: unaudited MOR included; cautions not to rely on MORs for investment decisions.
Original SEC Filing: OFFICE PROPERTIES INCOME TRUST [ OPI ] - 8-K - Apr. 01, 2026