A highly anticipated office development snagged a fresh round of debt, totaling in the billions. BXP scored a $1.2 billion construction loan for its development at 343 Madison Avenue next to Grand Central Terminal, the company disclosed in its second-quarter earnings report. The loan carries a 2.5 percent secured overnight financing rate, which will drop to 2.25 percent after leasing and construction benchmarks are hit. In September, BXP lowered its dividend by 30 percent to help pay for the office tower, seeing $50 million in quarterly savings. SIGN UPIn June, McDermott Will & Schulte, a Chicago law firm, signed a lease for roughly 150,000 square feet.