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  "documentTitle": "Office Properties Income Trust | Mergers and Acquisitions Presentation Deck | 16 slides",
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  "authorName": "Office Properties Income Trust",
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  "presentationDate": "2023-04-01 00:00:00",
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      "text": "2024 maturities and plan:\n$600 million senior notes maturing (OPI: $350 million; DHC: $250 million).\nMultiple alternatives available to refinance upcoming maturities, including accessing low cost GSE and agency debt as well as securing large unencumbered asset pool of Combined Company.",
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      "text": "Combined Company expected to progressively reduce leverage starting in late 2024 from higher SHOP cash flows.",
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      "text": "Expected to be accretive to OPI leverage beginning in 2H 2024 and immediately accretive to DHC leverage.",
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      "text": "1. Based on actual balances of OPI and DHC at December 31, 2022, unless otherwise noted.\n2. Pro forma for DHC's $250 million credit facility pay downs in Q1 2023 using cash on hand.\n3. Pro forma for the bridge loan commitment. Plan to use alternative capital to avoid use of bridge loan at closing.",
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      "text": "($ in millions)\nOPI revolving credit facility\nDHC credit facility\nBridge loan\nMortgage debt\nUnsecured notes\nTotal debt\nCash\nNet debt\n% of Debt Fixed or Hedged\nOPI 12/31/2022: $195, 0, 0, 50, 2,212, $2,457, (12), $2,445\nDHC 12/31/2022: $0, 450, 0, 25, 2,350, $2,825, (408), $2,417\nAdj.: $0, (450), 368, 0, 0, ($82), 157, $75\nCombined Company: $195, 0, 368, 75, 4,562, $5,200, (263), $4,937, 96%",
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      "text": "PRO FORMA CAPITALIZATION",
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      "text": "Pro Forma Debt Structure / Debt Composition¹",
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