Hudson Pacific Properties, Inc. (NYSE: HPP) announced that its operating partnership, Hudson Pacific Properties, L.P., has commenced a cash tender offer to purchase up to $200 million in aggregate principal amount of two series of outstanding senior notes.

The offer targets up to $100 million each of the company's 3.950% Senior Notes due 2027, of which $400 million is currently outstanding, and its 5.950% Senior Notes due 2028, of which $350 million is currently outstanding.

The tender offer consideration is $980.00 per $1,000 principal amount for the 2027 Notes and $991.25 per $1,000 principal amount for the 2028 Notes, in each case excluding accrued and unpaid interest.

The tender offer is set to expire at 5:00 p.m. New York City time on October 9, 2026. The company expects to settle accepted tenders on October 14, 2026. The company said it plans to fund the offer using cash on hand and/or borrowings under its unsecured revolving credit facility.

If either series receives tenders exceeding its $100 million target allocation, the company will accept notes from that series on a pro rata basis. Wells Fargo Securities, LLC is acting as exclusive dealer manager for the offer, according to a press release.