Highwoods Properties replaces $600.0 million credit line with $750.0 million facility
Highwoods Properties entered into an amended and restated $750.0 million unsecured revolving credit facility on March 18, 2021, replacing its previous $600.0 million facility. The new facility is scheduled to mature in March 2025 and includes an accordion feature for up to an additional $550.0 million of borrowing capacity subject to lender commitments. The filing describes the terms as a routine refinancing, with covenants substantially similar to the prior facility, and does not report a change in results or guidance.
- Facility size increased from $600.0 million to $750.0 million, with an accordion feature for up to an additional $550.0 million.
- Scheduled maturity is March 2025, with an option to extend for two additional six-month periods if no defaults have occurred.
- Current pricing is LIBOR plus 90 basis points, with an annual facility fee of 20 basis points, based on the company's credit ratings.
- The agreement was signed March 18, 2021, and filed as Exhibit 10.1 to the 8-K dated March 19, 2021.