Highwoods Properties Announces $350 Million Note Offering

Highwoods Properties Completes $350 Million Note Offering

Highwoods Properties, Inc. (NYSE: HIW) has successfully priced a significant offering of unsecured notes valued at $350 million. This strategic move is designed to improve the company's financial position and support its growth strategy.

Details of the Note Offering

The recent offering consists of 5.350% unsecured notes that are scheduled to mature on January 15, 2033. These notes were priced to yield 5.431%, a competitive rate reflecting the company’s strength in the real estate sector. The closing of the offering is projected for a later date, provided that standard closing conditions are met or satisfied.

Purpose of the Funds

Highwoods intends to utilize the proceeds from this offering for several key financial strategies. Primarily, the funds will be directed toward repaying existing debt. Specifically, this includes amounts due under their $750 million unsecured revolving credit facility, thereby reducing financial burdens.

Moreover, the proceeds are earmarked for various property acquisitions and development initiatives, demonstrating Highwoods' commitment to expanding its portfolio and maintaining its market presence. General corporate purposes will also be funded through this offering, ensuring liquidity for ongoing operations.

Key Managers and Stakeholders

The offering has garnered attention and participation from several prominent financial entities. Wells Fargo Securities, LLC leads the pack as the joint book-running manager, joined by BofA Securities, J.P. Morgan Securities, PNC Capital Markets, Truist Securities, U.S. Bancorp Investments, and TD Securities. These partnerships illustrate a strong backing for Highwoods’ financial maneuvers.

Accessing Financial Documents

For those interested in more detailed information about this offering, Highwoods provides a prospectus supplement and final prospectus. These documents can be accessed through a series of financial institutions involved in the offering. Interested parties are encouraged to contact these institutions for further inquiries or visit REGAR on the SEC website for free documentation.

About Highwoods Properties

Highwoods Properties, Inc. is a robust player in the real estate investment trust (REIT) sector, primarily dealing with office properties. Headquartered in Raleigh, the company has established itself as a leading REIT operating in several of the best business districts across notable cities such as Atlanta, Charlotte, and Dallas.

Highwoods specializes in a full spectrum of real estate services, including acquisition, leasing, and management of its assets, ensuring a comprehensive approach to real estate investment and property management.

Conclusion

The $350 million note offering positions Highwoods Properties, Inc. favorably within the market, allowing for strategic debt management while also facilitating opportunities for growth through property acquisitions and developments. This strategic financial move is expected to enhance the company's competitive edge in the real estate sector.

Frequently Asked Questions

What is the amount of the note offering by Highwoods Properties?

The note offering by Highwoods Properties amounts to $350 million.

What is the interest rate of the unsecured notes?

The unsecured notes carry an interest rate of 5.350%.

What is the maturity date of the notes?

The notes are set to mature on January 15, 2033.

How will Highwoods use the proceeds from the offering?

The proceeds will be used to repay outstanding debt, fund property acquisitions and development, and for general corporate purposes.

Which financial institutions are managing the offering?

Key managers include Wells Fargo Securities, BofA Securities, and J.P. Morgan Securities among others.

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