v2.4.0.8

Unsecured Exchangeable Senior Notes (Tables) | 6 Months Ended
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Jun. 30, 2013
Unsecured Exchangeable Senior Notes [Abstract] |
Schedule of Unsecured Exchangeable Senior Notes | The following summarizes the unsecured exchangeable senior notes outstanding as of June 30, 2013 (dollars in thousands):
| Coupon/ Stated Rate |  | Effective Rate(1) |  | Exchange Rate |  | Principal Amount |  | First Optional Redemption Date by the Company |  | Maturity Date
3.625% Exchangeable Senior Notes | 3.625 | % |  | 4.037 | % |  | 8.5051 |  | (2) | $ | 747,500 |  |  | N/A |  | February 15, 2014
Net unamortized discount |  |  |  |  |  |  | (924 | ) |  |  |  |
Adjustment for the equity component allocation, net of accumulated amortization |  |  |  |  |  |  | (12,298 | ) |  |  |  |
Total |  |  |  |  |  |  | $ | 734,278 |  |  |  |  |
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(1) | Yield on issuance date including the effects of discounts on the notes and the amortization of financing costs but excluding the effects of the adjustment for the equity component allocation.
(2) | The initial exchange rate is 8.5051 shares per $1,000 principal amount of the notes (or an initial exchange price of approximately $117.58 per share of Boston Properties, Inc.’s common stock). In addition, the Company entered into capped call transactions with affiliates of certain of the initial purchasers, which are intended to reduce the potential dilution upon future exchange of the notes. The capped call transactions were intended to increase the effective exchange price to the Company of the notes from $117.58 to approximately $137.17 per share (subject to adjustment), representing an overall effective premium of approximately 40% over the closing price on August 13, 2008 of $97.98 per share of Boston Properties, Inc.’s common stock. The net cost of the capped call transactions was approximately $44.4 million. As of June 30, 2013, the effective exchange price was $134.38 per share.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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