Highwoods prices $400 million notes due 2031 and sets $150 million debt tender
On August 13, 2020, the Operating Partnership completed a $400 million offering of 2.600% notes due February 1, 2031. The same day, Highwoods reported early results of its tender offer for up to $150 million of its 3.20% notes due 2021, with $222,588,000 tendered by the August 12 early deadline, so tendered amounts will be prorated at about 67%. The filing shows the company replacing near-term debt with longer-dated notes, but it includes no profit, revenue, or guidance figures.
Key points
- $400 million of 2.600% notes due February 1, 2031; interest is paid semi-annually, starting February 1, 2021.
- $222,588,000 of 3.20% notes due 2021 were tendered by the August 12, 2020 early deadline, above the $150 million tender cap.
- Proration rate of approximately 67%; total consideration is $1,019.08 per $1,000 principal, including a $30.00 early tender premium.
- Tendered notes are paid on August 14, 2020; the offer expires at midnight on August 26, 2020.
The filing
Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 13, 2020.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.