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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): September 29, 2021
BOSTON PROPERTIES, INC.
BOSTON PROPERTIES LIMITED PARTNERSHIP
(Exact Name of Registrants As Specified in its Charter)
Boston Properties, Inc.Delaware
1-13087
04-2473675
(State or Other Jurisdiction
of Incorporation)		(Commission File Number)(IRS Employer
Identification No.)
Boston Properties Limited PartnershipDelaware
0-50209
04-3372948
(State or Other Jurisdiction
of Incorporation)		(Commission File Number)(IRS Employer
Identification No.)
800 Boylston Street, Suite 1900, Boston, Massachusetts 02199
(Address of Principal Executive Offices) (Zip Code)
(617) 236-3300
(Registrants’ telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions (see General Instruction A.2. below):
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



Securities registered pursuant to Section 12(b) of the Act:
RegistrantTitle of each classTrading Symbol(s)Name of each exchange on which registered
Boston Properties, Inc.Common Stock, par value $0.01 per shareBXPNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Boston Properties, Inc.:
Emerging growth company ☐

Boston Properties Limited Partnership:
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Boston Properties, Inc. ☐         Boston Properties Limited Partnership ☐






Item 8.01.    Other Events.
Issuance of Senior Notes due 2033
On September 29, 2021, Boston Properties Limited Partnership (the “Partnership”), the operating partnership of Boston Properties, Inc. (the “Company”), completed the issuance and sale of $850.0 million aggregate principal amount of the Partnership’s 2.450% Senior Notes due 2033 (the “Notes”) pursuant to an underwriting agreement dated September 15, 2021 (the “Underwriting Agreement”), by and among the Partnership and BNY Mellon Capital Markets, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Truist Securities, Inc. and Wells Fargo Securities, LLC, as managers of the several underwriters named in Schedule II thereto (the “Underwriters”), whereby the Partnership agreed to sell and the Underwriters agreed to purchase from the Partnership, subject to and upon the terms and conditions set forth in the Underwriting Agreement, the Notes.
The net proceeds to the Partnership from the sale of the Notes, after deducting underwriting discounts and estimated transaction expenses, are estimated to be approximately $842.5 million. The Partnership intends to allocate an amount equal to the net proceeds from the offering to the financing and refinancing of recently completed and future eligible green projects (as such term is defined in the Prospectus Supplement, defined below) in the United States. Pending such allocation, the Partnership intends to use the net proceeds from the offering to fund the redemption of the $1.0 billion aggregate principal amount of its 3.85% senior notes due 2023 that are scheduled to mature on February 1, 2023 (the “2023 Notes”). The Partnership intends to use available cash and/or borrowings under its $1.5 billion unsecured revolving credit facility to fund the remaining portion of the funds needed to redeem the 2023 Notes in full. Pending the use of the net proceeds from the offering to redeem the 2023 Notes, the Partnership may invest the net proceeds in short-term, interest-bearing deposit accounts. Net proceeds allocated to previously incurred costs associated with eligible green projects will be available for repayment of debt or other uses.
The Notes were issued under the indenture, dated as of December 13, 2002, between the Partnership and The Bank of New York Mellon Trust Company, N.A. (as successor to The Bank of New York Mellon, formerly known as The Bank of New York), as supplemented by Supplemental Indenture No. 23 (“Supplemental Indenture No. 23”) dated as of September 29, 2021.
The offer and sale of the Notes were registered with the Securities and Exchange Commission (the “Commission”) pursuant to a registration statement on Form S-3 (File No. 333-238607-01) (the “Registration Statement”) under the Securities Act of 1933, as amended (the “Securities Act”). The material terms of the Notes are described in a prospectus supplement filed by the Partnership with the Commission on September 16, 2021 (the “Prospectus Supplement”) pursuant to Rule 424(b)(5) under the Securities Act.
Copies of the Underwriting Agreement, Supplemental Indenture No. 23 and the form of the Notes are attached hereto as Exhibit 1.1, Exhibit 4.1 and Exhibit 4.2, respectively, and are incorporated herein by reference. The foregoing summaries do not purport to be complete and are qualified in their entirety by reference to the Underwriting Agreement, Supplemental Indenture No. 23 and the form of the Notes.
Additionally, in connection with the filing of the Underwriting Agreement, the Partnership is filing the opinion and consent of its counsel, Goodwin Procter LLP, regarding the legality of the securities being registered as Exhibits 5.1 and 23.1 hereto, respectively, which are incorporated by reference into the Registration Statement.


Redemption of Senior Notes due 2023
The Company has elected to redeem the 2023 Notes on October 15, 2021 (the “Redemption Date”). The redemption price for the 2023 Notes will equal the greater of (i) 100% of the principal amount of the 2023 Notes to be redeemed or (ii) the sum of (A) the present values as of the Redemption Date of the remaining scheduled payments of principal and interest thereon from the Redemption Date to the date of maturity (except for currently accrued but unpaid interest) discounted to the Redemption Date, on a semi-annual basis at a rate equal to the yield to maturity of a comparable United States Treasury security plus 35 basis points, plus (B) accrued and unpaid interest to, but not including, the Redemption Date. The redemption price will be calculated three business days prior to the Redemption Date and will be payable on the Redemption Date in accordance with the terms of the 2023 Notes. In connection with the redemption of the 2023 Notes, the Company expects that it will record a loss from early extinguishment of debt in the fourth quarter of 2021.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.
Exhibit No.Description
*1.1
*4.1
*4.2
*5.1
*23.1
*101.SCHInline XBRL Taxonomy Extension Schema Document.
*101.LABInline XBRL Taxonomy Extension Label Linkbase Document.
*101.PREInline XBRL Taxonomy Extension Presentation Linkbase Document.
*101.DEFInline XBRL Taxonomy Extension Definition Linkbase Document.
*104Cover Page Interactive Data File (formatted as Inline XBRL with applicable taxonomy extension information contained in Exhibits 101.*).
______________
* Filed herewith.






SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.


BOSTON PROPERTIES, INC.
By:
/s/    MICHAEL E. LABELLE        
Michael E. LaBelle
Executive Vice President, Chief Financial Officer
and Treasurer
BOSTON PROPERTIES LIMITED PARTNERSHIP
By: Boston Properties, Inc., its General Partner
By:
/s/    MICHAEL E. LABELLE        
Michael E. LaBelle
Executive Vice President, Chief Financial Officer
and Treasurer
    

Date: September 29, 2021