Loan & DebtJun 4, 2026, 04:06 PM
Highwoods Properties Extends $150M Term Loan to June 2031
AI Summary
Highwoods Properties, Inc. has successfully recast a $150 million unsecured bank term loan, extending its maturity from May 2027 to June 2031, with options for further extensions. The interest rate for this loan is now SOFR plus 90 basis points. Additionally, the company updated interest rates for its $200 million term loan and $750 million unsecured revolving credit facility, with potential adjustments tied to sustainability performance.
Key Highlights
- Highwoods Properties recast a $150 million unsecured bank term loan.
- Maturity date extended from May 2027 to June 2031, including two one-year extension options.
- Interest rate for the $150 million term loan is SOFR plus 90 basis points.
- Interest rate for the $200 million term loan is SOFR plus 95 basis points.
- Interest rate for the $750 million unsecured revolving credit facility is SOFR plus 85 basis points.
- Interest rates may adjust by 2.5 basis points based on achieving sustainability goals for greenhouse gas emissions reduction.
- BofA Securities, Wells Fargo Securities, PNC Capital Markets, T.D. Bank, Truist Securities, U.S. Bank, and JPMorgan Chase Bank served as Joint Lead Arrangers.
Price Impact
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