Office Properties Income is down 70% year-to-date as market concerns about its solvency reach a crescendo. The REIT held an outstanding debt balance of $2.6 billion at the end of its recent first quarter, with $650 million maturing in February 2025. OPI's debt exchange offers should see the issuance of up to $610 million of new 9% senior secured notes, mostly in exchange for the February 2025 debt.