Filed Pursuant to Rule 433
Registration No. 333-131255
Registration No. 333-131255
 | PRICING TERM SHEET, dated April 24, 2007 |
$300,000,000 5.700% Guaranteed Notes Due 2017
Issuer: | Brandywine Operating Partnership, L.P. | |||
Guarantor: | Brandywine Realty Trust | |||
Size: | $300,000,000 | |||
Maturity: | May 1, 2017 | |||
Coupon (Interest Rate): | 5.700% | |||
Yield to Maturity: | 5.722% | |||
Spread to Benchmark Treasury: | 1.10%; T + 110 basis points | |||
Benchmark Treasury: | 4.625% due February 2017 | |||
Benchmark Treasury Price and Yield: | 100-00+; 4.622% | |||
Interest Payment Dates: | May 1 and November 1, commencing on November 1, 2007 | |||
Day Count Convention: | 30 / 360 | |||
Redemption Provision: | Make-whole call at T + 20 basis points | |||
Price to Public: | 99.834% | |||
Gross Proceeds: | $299,502,000 | |||
Settlement Date: | T+4; April 30, 2007 | |||
Denominations: | $5,000 x $1,000 | |||
CUSIP: | 105340AJ2 | |||
Joint Book-Running Managers: | Underwriting | |||
| Banc of America Securities LLC | $88,000,000 | |||
| J.P. Morgan Securities Inc. | $88,000,000 | |||
| Wachovia Capital Markets, LLC | $88,000,000 | |||
Co-Managers: | ||||
| BMO Capital Markets Corp. | $4,500,000 | |||
| BNY Capital Markets Inc. | $4,500,000 | |||
| Citigroup Global Markets, Inc. | $4,500,000 | |||
| Deutsche Bank Securities Inc. | $4,500,000 | |||
| Greenwich Capital Markets, Inc. | $4,500,000 | |||
| Morgan Keegan & Company, Inc. | $4,500,000 | |||
| Piper Jaffrey & Co. | $4,500,000 | |||
| RBC Capital Markets Corporation | $4,500,000 | |||
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Investor Relations, 610-325-5600 or emailing howard.sipzner@bdnreit.com at Brandywine Realty Trust.
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