New Issue: Highwoods Realty prices $400 million of 2.6% notes due 2031 to yield 2.645%

By Cristal Cody

Tupelo, Miss., July 30 – Highwoods Realty LP priced $400 million of 2.6% notes due Feb. 1, 2031 (Baa2/BBB) to yield 2.645% on Thursday, according to a news release.

Wells Fargo Securities LLC, BofA Securities Inc., Jefferies LLC, SunTrust Robinson Humphrey Inc., U.S. Bancorp Investments, Inc., Capital One Securities, Inc., Regions Securities LLC and J.P. Morgan Securities LLC were the bookrunners.

Proceeds will be used to fund a cash tender offer for $100 million of the company's 3.2% notes due 2021, to repay debt, including the borrowings under the company’s $600 million unsecured revolving credit facility, its $200 million unsecured bank term loan and its $100 million unsecured bank term loan, and for general corporate purposes.

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

Issuer:	Highwoods Realty LP
Amount:	$400 million
Maturity:	Feb. 1, 2031
Securities:	Notes
Bookrunners:	Wells Fargo Securities LLC, BofA Securities Inc., Jefferies LLC, SunTrust Robinson Humphrey Inc., U.S. Bancorp Investments, Inc., Capital One Securities, Inc., Regions Securities LLC and J.P. Morgan Securities LLC
Co-managers:	FHN Financial Securities Corp. and Fifth Third Securities, Inc.
Coupon:	2.6%
Yield:	2.645%
Trade date:	July 30
Settlement date:	Aug. 13
Ratings:	Moody’s: Baa2
	S&P: BBB
Distribution:	SEC registered

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