Highwoods Properties amends and restates $750.0 million unsecured revolving credit facility
Highwoods Properties entered into an amended and restated $750.0 million unsecured revolving credit facility on January 25, 2024, replacing its prior $750.0 million facility. The company said the financial and other covenants are substantially similar to the previous facility, and that the interest rate and facility fee remain unchanged based on current credit ratings. The filing shows routine refinancing terms rather than a change in borrowing capacity or cost.
- New $750.0 million unsecured revolving credit facility replaces the prior $750.0 million facility, dated January 25, 2024
- Facility is scheduled to mature in January 2028, with two additional six-month extensions available at the company's option if no defaults have occurred
- Pricing remains SOFR plus a 10 basis point spread adjustment and an 85 basis point borrowing spread, with a 20 basis point annual facility fee
- Company may elect by May 15, 2024 to adjust the interest rate by up to 2.5 basis points tied to greenhouse gas emission reduction goals, subject to lender consent