Highwoods Recasts $150M Unsecured Bank Term Loan

Highwoods (NYSE:HIW) recast a $150 million unsecured bank term loan, extending its maturity from May 2027 to June 2031, including two one-year extension options at the company’s discretion if no default occurs.

Rhea-AI Summary

Highwoods (NYSE:HIW) recast a $150 million unsecured bank term loan, extending its maturity from May 2027 to June 2031, including two one-year extension options at the company’s discretion if no default occurs.

Revised pricing applies to its term loans and $750 million revolving credit facility, with small rate adjustments tied to greenhouse gas emission reduction goals.

Positive

• Extended $150 million unsecured term loan maturity from May 2027 to June 2031
• Secured committed pricing on $150M and $200M term loans and $750M revolver
• Interest margins can move 2.5 bps based on sustainability performance

Negative

• None.

Argus Jun 5 session

+1.01% close to close Open Argus

Details

News Market Reaction – HIW

On Jun 5, the first trading day after this news, HIW closed 1.01% above the previous close.

Data tracked by StockTitan Argus for the Jun 5 session.

Key Figures

Recast term loan: $150 million New loan spread: SOFR + 90 bps Other term loan: $200 million at SOFR + 95 bps +5 more

Recast term loan

$150 million

Unsecured bank term loan maturity extended from May 2027 to June 2031

New loan spread

SOFR + 90 bps

Newly extended $150 million unsecured bank term loan

Other term loan

$200 million at SOFR + 95 bps

Existing unsecured bank term loan pricing

Revolver facility

$750 million at SOFR + 85 bps

Unsecured revolving credit facility interest margin

Sustainability adjustment

±2.5 basis points

Rate adjustment tied to greenhouse gas emission reduction goals

Extended maturity

June 2031

Maturity for recast $150 million term loan, from May 2027

Extension options

Two 1-year options

At the company’s option, subject to no defaults

52-week range

$20.45–$32.76

Pre-news 52-week low and high for HIW shares

Historical Context

5 past events · Latest: May 12

5 events

1. May 12

   Asset sale

   24h Move

   +1.9%

   Sale of fully leased Bridgestone Tower with sizable expected non-FFO gain.

2. May 11

   ESG report

   24h Move

   +0.6%

   Publication of 2025 Corporate Resiliency Report highlighting portfolio durability.

3. Apr 28

   Earnings release

   24h Move

   -4.8%

   First quarter 2026 results posting with details available on investor site.

4. Apr 22

   Buyback authorization

   24h Move

   -0.3%

   Board authorized new $250 million common stock repurchase program.

5. Apr 22

   Dividend declaration

   24h Move

   -0.3%

   Declared $0.50 common quarterly dividend and Series A preferred dividend.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

sofr, basis points, unsecured bank term loan, unsecured revolving credit facility, +1 more

5 terms

sofr financial

"The interest rate is now SOFR plus 90 basis points on our newly extended..."

The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.

basis points financial

"The interest rate is now SOFR plus 90 basis points on our newly extended..."

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

unsecured bank term loan financial

"has executed a recast of a $150 million unsecured bank term loan by extending..."

An unsecured bank term loan is a fixed-schedule loan from a bank that is not backed by specific company assets — think of it as a formal IOU with regular repayment dates but no collateral pledged. It matters to investors because such loans increase a company’s debt burden and represent higher risk for lenders (and lower repayment priority in bankruptcy) than secured debt, which can influence credit costs, cash flow and stock risk.

unsecured revolving credit facility financial

"and SOFR plus 85 basis points on our $750 million unsecured revolving credit facility."

A revolving credit facility is a line of borrowing that a company can draw from, repay, and draw again up to a set limit; “unsecured” means the loans are not backed by specific assets as collateral. Investors care because it acts like a corporate credit card—giving short‑term cash flexibility to cover operations or unexpected needs—while signaling lenders’ confidence and affecting interest costs, default risk, and the company’s financial stability.

greenhouse gas emissions technical

"sustainability goals with respect to the ongoing reduction of greenhouse gas emissions."

Greenhouse gas emissions are the gases a company releases into the air—like carbon dioxide or methane—that trap heat in the atmosphere and contribute to global warming. For investors, these emissions matter because they can lead to higher regulatory costs, fines, shifting consumer preferences, and physical risks (like supply-chain disruptions), or create opportunities in low-carbon products; think of emissions as a company’s climate footprint that can affect future profits and value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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RALEIGH, N.C., June 04, 2026 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has executed a recast of a $150 million unsecured bank term loan by extending the maturity date from May 2027 to June 2031, inclusive of two one-year extension options that are exercisable at the Company’s option assuming no defaults have occurred.

The interest rate is now SOFR plus 90 basis points on our newly extended $150 million term loan, SOFR plus 95 basis points on our $200 million term loan and SOFR plus 85 basis points on our $750 million unsecured revolving credit facility. In each case, the interest rate may be adjusted upward or downward by 2.5 basis points depending upon whether or not we achieve certain pre-determined sustainability goals with respect to the ongoing reduction of greenhouse gas emissions.

BofA Securities, Inc., Wells Fargo Securities, LLC, PNC Capital Markets LLC, T.D. Bank, N.A., Truist Securities, Inc., U.S. Bank National Association and JPMorgan Chase Bank, N.A. served as Joint Lead Arrangers on the newly extended term loan, with BofA Securities, Inc., Wells Fargo Securities, LLC and PNC Capital Markets LLC serving as Joint Bookrunners. Bank of America, N.A. is Administrative Agent and Wells Fargo Bank, National Association and PNC Bank, National Association are Co-Syndication Agents. TD Bank, N.A., Truist Bank, U.S. Bank National Association and JPMorgan Chase Bank, N.A. served as Co-Documentation Agents. First Citizens Bank served as Senior Managing Agent. Other lenders include First Horizon Bank and Associated Bank, National Association.

About Highwoods
Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW), fully-integrated office real estate investment trust (“REIT”) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa. Our vision is to be a leader in the evolution of commercial real estate for the benefit of our customers, our communities and those who invest with us. Our mission is to create environments and experiences that inspire our teammates and our customers to achieve more together. We are in the work-placemaking business and believe that by creating exceptional environments and experiences, we can deliver greater value to our customers, their teammates and, in turn, our shareholders. For more information about Highwoods, please visit our website at www.highwoods.com.

Contact:	Brendan Maiorana
	Executive Vice President and Chief Financial Officer
	brendan.maiorana@highwoods.com
	919-872-4924

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Highwoods (NYSE:HIW) announce on June 4, 2026 about its bank term loan?

Highwoods announced it recast a $150 million unsecured bank term loan, extending its maturity to June 2031. According to the company, the loan now includes two one-year extension options, exercisable at Highwoods’ option, provided no defaults have occurred.

When does Highwoods’ recast $150 million unsecured term loan now mature?

The recast $150 million unsecured term loan now matures in June 2031. According to Highwoods, the structure also includes two additional one-year extension options, which the company may exercise at its discretion as long as no events of default exist.

What are the new interest rates on Highwoods (HIW) loans and credit facility?

The $150 million term loan now bears interest at SOFR plus 90 basis points. According to Highwoods, the $200 million term loan is priced at SOFR plus 95 basis points, and the $750 million unsecured revolving credit facility at SOFR plus 85 basis points.

How do sustainability goals affect Highwoods’ loan interest rates?

Highwoods’ loan interest margins can adjust by 2.5 basis points based on sustainability performance. According to the company, rates on the term loans and revolving credit facility may move up or down depending on achieving pre-determined greenhouse gas emission reduction goals.

Which banks arranged Highwoods’ June 2026 $150 million term loan recast?

Multiple major banks arranged Highwoods’ recast $150 million term loan. According to the company, BofA Securities, Wells Fargo Securities, PNC Capital Markets, TD Bank, Truist Securities, U.S. Bank, and JPMorgan Chase served as Joint Lead Arrangers, with additional roles across the syndicate.