good everyone. Thanks, Eddie, and afternoon,
Tuesday, we activity for our for benefit market into announced and felt the short our all ahead information As information of important to of so this available. the call, given refinancing all investors notice we financial most was and up that that earnings go the the of the us appreciate recent get accommodating quarterly have we you moved full it operational of
walk activities we've for a First, undertaken, brief rationale and a you that through the overview quarterly recent refinancing to give our like I'd results. of
George me hear Following Bobby Investments; as and EVP Officer. Chief Officer; our Financial usual, our Chief you'll Chris our from Kollme, Operating Wells, Bowers, of
management any We also may have have. our the that answer questions full usual team to you of component available
jump With that, the activity. I'll right refinancing in on
million Tuesday senior during mature made and any closed also aggregate offer Concurrent afternoon, principal $XXX announced new the X.XX% at par of year the unsecured outstanding tender five to are that notes a amount have issuance scheduled $XXX we in a all million quarter with we of first we bonds, notes. As the of our for of unsecured XXXX.
which have tender of knowing will that of interest way holders week. tender, exactly of will and environment, projecting how Although many the current we a current the close participate in their no bonds, rate are next majority holders given XX the we our will
a commercial for debt currently market office While rate properties. of where certainly new the on high reflective the Piedmont, the coupon unfortunately is is for it is watermark
the equity debt through term or the others. a on process balance of of a sheet CMBS a including and one with Over analyzing among market, capital number months, possibility our financings, issuing an market; level including structured offering; placement more either private the we've unsecured public the a bond loan, placing utilizing bank gone last and or or convertible lender through preferred in various corporate potential mortgage raising of of several either extensive alternatives, our properties, exploring sales, and asset
lack the have not justify sales end complete, did in a value on whatever given low the And execution loan concluded the modest CMBS the discount our dozen assets encumbering ratios. we day, asset than had might financing. At to a there of portfolio at extremely be of more been asset-level to that half difficult of
Finally, capacity compared a and asset for offered financing to consideration unsecured is the agencies. maintaining the market other bond greatest alternatives, rating the important pool unencumbered unsecured large
In with and including key to liquidity, move addition, helped programs, has has tendency company and allowing to repositioning in others. component an and greater among a the dispositions, ample debt as property with primarily maintain balance borrower. prepayment penalties flexible leasing This unsecured strategy avoiding many expediting ways, been our capital of capital recycling the throughout portfolio, flexibility a sheet
was the action next Fed instrumental the our debt near-term and messaging shorter, was our to for the tenure recently, during the rates Therefore, leasing the of hikes available and the rate continued now a public year that volumes. lack available from largest currently half back prudent the come Piedmont. the mortgage accessing expectation considering office regarding over lack market opportunity latter in in overall of additional More the years down five-year decision the been influenced course our concluded of with most that portfolio addressing go after ultimately maturity The generally, financing bond will new interest driving we the several the of notes. for opportunities has while sector to
Piedmont’s broader continued operating the XXXX facing demonstrated quarter the sector. success, to our office challenges despite results, Turning of the second
as leasing in our our tenants. demand to is to Our opportunity monetized The working be continue owner and landlords flight after the Quarter businesses, the medium-sized as larger operators formula to well-capitalized to and capital customers constrained particularly buildings value for non-tech is operated outsized minded service well-designed momentum, and optimistic market. well continue from is quality that garnering leasing corporate demonstrate favoring small today's continue environments proposition work by Piedmont. we about we and quarter,
we executed almost momentum to Piedmont’s tenant pipeline Bank, lease continue sustained lease market achieved. generated robust its the quality Piedmont the meaningfully tenant brief, flight XXX,XXX from of leasing versus and to providing quarter the In is feet workspaces In meaningful an towards leasing, strategy, the substantial at with rates significant renewal volumes rents. The for U.S. lower extension to construction. remaining playing premier occurring we progress total, in first on rental new downtown we roll its our Minneapolis headquarters cash make majority and tenant, location. square XX% of a Furthermore, up over largest of of a in prospective
will at long-term the in and there of similar we to calls. limited remain the U.S. prior Bank’s incremental we renewal details metrics under it's Given terms we've lease regarding Crossings decisions follow we're earnings Meridian the on discussed negotiation that no documentation share location lease, today. conclusion IT and stage can a but and on information datacenter agreement operations so share the for are its downtown with
go who George success At this hand will our during I quarter. operational into call around details the more time, the over will
