New Issue: Highwoods Realty sells $400 million 3.05% notes due 2030 at 162.5 bps over Treasuries

Chicago, Sept. 4 – Highwoods Realty LP priced $400 million of 3.05% 10-year notes due Feb. 15, 2030 on Wednesday at a spread of Treasuries plus 162.5 basis points, according to an FWP filing with the Securities and Exchange Commission.

The notes (Baa2/BBB) priced at 99.745 to yield 3.079%.

Wells Fargo Securities, LLC, BofA Securities, Inc., Jefferies LLC, U.S. Bancorp Investments, Inc., BB&T Capital Markets, a division of BB&T Securities, LLC, Capital One Securities, Inc. and Regions Securities LLC. were the bookrunners.

Proceeds will be used for general corporate purposes, including funding acquisition and development activity, the repayment or refinancing of outstanding debt, working capital and other general purposes.

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

Issuer:	Highwoods Realty LP
Amount:	$400 million
Maturity:	Feb. 15, 2030
Securities:	Notes
Bookrunners:	Wells Fargo Securities, LLC, BofA Securities, Inc., Jefferies LLC, U.S. Bancorp Investments, Inc., BB&T Capital Markets, a division of BB&T Securities, LLC, Capital One Securities, Inc. and Regions Securities LLC
Co-managers:	Fifth Third Securities, Inc., FTN Financial Securities Corp. and J.P. Morgan Securities LLC
Coupon:	3.05%
Price:	99.745
Yield:	3.079%
Spread:	Treasuries plus 162.5 bps
Call features:	Make-whole call before Nov. 17, 2029 at Treasuries plus 25 bps; thereafter at par
Trade date:	Sept. 4
Settlement date:	Sept. 13
Ratings:	Moody’s: Baa2
	S&P: BBB
Distribution:	SEC registered

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.