Highwoods Recasts $150M Unsecured Bank Term Loan
Highwoods Properties executed a recast of its $150 million unsecured bank term loan, extending the maturity date from May 2027 to June 2031 with two additional one-year extension options. The interest rate on the extended loan is set at SOFR plus 90 basis points, an improvement over the SOFR plus 95 basis points on its existing $200 million term loan, while its $750 million revolver sits at SOFR plus 85 basis points.
Key figures
- Revolver amount
- 750000000
- Revolver spread
- SOFR + 85 bps
- Recast loan amount
- 150000000
- Recast loan spread
- SOFR + 90 bps
- Recast loan maturity
- June 2031
- Existing term loan amount
- 200000000
- Existing term loan spread
- SOFR + 95 bps
- Sustainability rate adjustment
- 2.5 bps
AI analysis
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AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.