Highwoods Properties amends $750 million credit facility with emissions-linked rate tweak
Highwoods Properties modified its $750.0 million unsecured revolving credit facility on May 23, 2024. The amendment lets the interest rate move up or down by 2.5 basis points depending on whether the company meets pre-set sustainability goals for reducing greenhouse gas emissions. The change is small and does not alter the facility size or the existing base pricing described in the filing.
- Revolving credit facility size: $750.0 million, unsecured
- Interest: SOFR plus a 10 basis point spread adjustment and an 85 basis point borrowing spread, based on current credit ratings
- Amendment adds a ±2.5 basis point rate adjustment tied to greenhouse gas emissions reduction goals
- Full text filed as Exhibit 10.1 (Fourth Amendment to Sixth Amended and Restated Credit Agreement) with Bank of America, N.A. as Administrative Agent