Highwoods extends $200 million term loan, lowers pricing by 55 bps

By Susanna Moon

Chicago, Oct. 11 - Highwoods Properties, Inc. said it extended the maturity of its $200 million unsecured term loan to Jan. 12, 2018 and lowered pricing to Libor plus 165 basis points.

The company amended the terms of the loan with Wells Fargo Securities, LLC as lead arranger and Wells Fargo Bank, NA as administrative agent, according to a press release.

The loan had been set to mature on Feb. 25, 2016, and interest was reduced by 55 bps from Libor plus 220 bps.

PNC Bank, NA, Branch Banking and Trust Co. and U.S. Bank, NA are the documentation agents. Bank of America, NA, Union Bank, NA, Fifth Third, Capital One, NA and Royal Bank of Canada/RBC Bank USA are the lenders.

Highwoods is a real estate investment trust based in Raleigh, N.C.

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