Market Overview

Government Properties Income Trust Amends $750 Million Credit Facility

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Government Properties Income Trust (NASDAQ:GOV) today announced that it
has amended and restated the credit agreement for its existing $750
million unsecured revolving credit facility.

Prior to the amendment, GOV's revolving credit facility had a maturity
date of January 31, 2019, and required interest on drawings at LIBOR
plus 125 basis points, subject to adjustments based on changes to GOV's
credit ratings. The maturity date of the amended revolving credit
facility has been extended to January 31, 2023, and includes a
borrower's option to further extend the facility for two additional
six-month periods in return for payment of a fee and provided certain
conditions are met. Interest on drawings under the amended revolving
credit facility have also been reduced to LIBOR plus 110 basis points,
subject to adjustments based on changes to GOV's credit ratings. In
addition, the amended credit agreement includes a feature under which,
in certain circumstances, the aggregate revolving credit facility
commitments and borrowings in conjunction with outstanding principal
associated with term loans may be increased to up to $2.5 billion.

The amended revolving credit facility will also remain in place
following GOV's pending merger with Select Income REIT (NASDAQ:SIR).

Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Inc.
and Citigroup Global Markets Inc. acted as Joint Lead Arrangers for the
amended credit facility. Banks participating in the amended credit
facility are as follows:

               

Name of Institution

Facility Title

Wells Fargo Bank, N.A. Administrative Agent
Bank of America, N.A. Co-Syndication Agent
Citibank, N.A. Co-Syndication Agent
Mizuho Bank, Ltd. Co-Documentation Agent
PNC Bank, N.A. Co-Documentation Agent
Royal Bank of Canada Co-Documentation Agent
Regions Bank Co-Documentation Agent
Sumitomo Mitsui Banking Corp Co-Documentation Agent
U.S. Bank, N.A. Co-Documentation Agent
BMO Harris Bank N.A. Lender
Branch Banking and Trust Company Lender
Associated Bank, National Association Lender
Berkshire Bank Lender
First Hawaiian Bank National Association Lender
First Tennessee Bank Lender
Barclays Bank PLC Lender
Morgan Stanley Bank, N.A. Lender
UBS AG, Stamford Branch Lender
E.Sun Commercial Bank, Ltd. Lender

Government Properties Income Trust is a real estate investment trust, or
REIT, which primarily owns properties located throughout the United
States that are majority leased to government tenants and office
properties in the metropolitan Washington, D.C. market area that are
leased to government and private sector tenants. GOV is managed by the
operating subsidiary of The RMR Group Inc. (NASDAQ:RMR), an alternative
asset management company that is headquartered in Newton, MA.

WARNING CONCERNING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS STATEMENTS THAT CONSTITUTE FORWARD LOOKING
STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. ALSO, WHENEVER GOV USES
WORDS SUCH AS "BELIEVE", "EXPECT", "ANTICIPATE", "INTEND", "PLAN",
"ESTIMATE", "WILL", "MAY" AND NEGATIVES OR DERIVATIVES OF THESE OR
SIMILAR EXPRESSIONS, GOV IS MAKING FORWARD LOOKING STATEMENTS. THESE
FORWARD LOOKING STATEMENTS ARE BASED UPON GOV'S PRESENT INTENT, BELIEFS
OR EXPECTATIONS, BUT FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED TO
OCCUR AND MAY NOT OCCUR. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE
CONTAINED IN OR IMPLIED BY GOV'S FORWARD LOOKING STATEMENTS AS A RESULT
OF VARIOUS FACTORS.

  • CONTINUED AVAILABILITY OF BORROWINGS UNDER THE REVOLVING CREDIT
    FACILITY IS SUBJECT TO GOV'S SATISFYING CERTAIN FINANCIAL COVENANTS
    AND OTHER CREDIT FACILITY CONDITIONS THAT GOV MAY BE UNABLE TO SATISFY.
  • GOV HAS THE OPTION TO EXTEND THE MATURITY DATE OF THE REVOLVING CREDIT
    FACILITY UPON PAYMENT OF A FEE AND MEETING OTHER CONDITIONS; HOWEVER,
    THE APPLICABLE CONDITIONS MAY NOT BE MET.
  • ACTUAL COSTS UNDER THE REVOLVING CREDIT FACILITY WILL BE HIGHER THAN
    LIBOR PLUS A PREMIUM BECAUSE OF FEES AND EXPENSES ASSOCIATED WITH SUCH
    FACILITY.
  • THE PREMIUMS USED TO DETERMINE THE INTEREST RATE PAYABLE ON THE
    REVOLVING CREDIT FACILITY AND THE FACILITY FEE PAYABLE ON THE
    REVOLVING CREDIT FACILITY ARE BASED ON GOV'S CREDIT RATINGS. FUTURE
    CHANGES IN GOV'S CREDIT RATINGS MAY CAUSE THE INTEREST AND FEES GOV
    PAYS TO INCREASE.
  • THIS PRESS RELEASE STATES THAT THE MAXIMUM BORROWING AVAILABILITY
    UNDER THE CREDIT AGREEMENT MAY BE INCREASED TO UP TO $2.5 BILLION IN
    CERTAIN CIRCUMSTANCES; HOWEVER, INCREASING THE MAXIMUM BORROWING
    AVAILABILITY UNDER THE CREDIT AGREEMENT IS SUBJECT TO GOV'S OBTAINING
    ADDITIONAL COMMITMENTS OR TERM LOANS FROM LENDERS, WHICH MAY NOT OCCUR.
  • THE CLOSING OF GOV'S PENDING MERGER WITH SIR IS SUBJECT TO THE
    SATISFACTION OR WAIVER OF CONDITIONS, INCLUDING THE RECEIPT OF
    REQUISITE APPROVALS BY GOV'S AND SIR'S SHAREHOLDERS. GOV CANNOT BE
    SURE THAT ANY OR ALL OF SUCH CONDITIONS WILL BE SATISFIED OR WAIVED.
    ACCORDINGLY, THE MERGER MAY NOT CLOSE WHEN EXPECTED, OR AT ALL, OR THE
    TERMS OF THE MERGER MAY CHANGE.

THE INFORMATION CONTAINED IN GOV'S FILINGS WITH THE SECURITIES AND
EXCHANGE COMMISSION, OR SEC, INCLUDING UNDER THE CAPTION "RISK FACTORS"
IN GOV'S PERIODIC REPORTS, OR INCORPORATED BY REFERENCE
THEREIN, IDENTIFIES OTHER IMPORTANT FACTORS THAT COULD CAUSE GOV'S
ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE STATED IN OR IMPLIED BY
GOV'S FORWARD LOOKING STATEMENTS. GOV'S FILINGS WITH THE SEC ARE
AVAILABLE ON THE SEC'S WEBSITE AT WWW.SEC.GOV.

YOU SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.

EXCEPT AS REQUIRED BY LAW, GOV DOES NOT INTEND TO UPDATE OR CHANGE ANY
FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION, FUTURE EVENTS
OR OTHERWISE.

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