Highwoods Recasts Term Loan

Rhea-AI Summary

Highwoods Properties (NYSE:HIW) has successfully recast its $200 million unsecured bank term loan, extending the maturity date from May 2026 to January 2029. The new term loan features a SOFR plus 95 basis points interest rate, with potential adjustments of ±2.5 basis points based on greenhouse gas emission reduction goals.

The loan includes a two-year extension option and was arranged by multiple financial institutions, with BofA Securities, Wells Fargo Securities, and PNC Capital Markets serving as Joint Bookrunners. Bank of America acts as Administrative Agent, while Wells Fargo and PNC Bank serve as Co-Syndication Agents.

Positive

• Extended maturity date by 2.7 years to January 2029
• Additional two-year extension option available
• Interest rate can be reduced by 2.5 basis points if sustainability goals are met

Negative

• Interest rate exposure to SOFR fluctuations

RALEIGH, N.C., Aug. 12, 2025 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has executed a recast of a $200 million unsecured bank term loan by extending the maturity date from May 2026 to January 2029. The term can be extended for two additional years at our option assuming no defaults have occurred.

The interest rate on our new term loan is SOFR plus 95 basis points. 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. and U.S. Bank National Association served as Joint Lead Arrangers on the new 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 and U.S. Bank National Association served as Co-Documentation Agents. JPMorgan Chase Bank, N.A. and First Citizens Bank served as Co-Managing Agents. Other lenders include First Horizon Bank, Associated Bank, National Association, and First Independence Bank.

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

What are the terms of Highwoods Properties' (HIW) recast term loan in 2025?

The recast term loan is for $200 million with maturity extended to January 2029, featuring a SOFR plus 95 basis points interest rate and potential sustainability-linked adjustments of ±2.5 basis points.

When does Highwoods Properties' (HIW) new term loan mature?

The term loan matures in January 2029, with an option to extend for two additional years if no defaults occur.

What is the interest rate on Highwoods Properties' (HIW) 2025 recast term loan?

The interest rate is SOFR plus 95 basis points, with potential adjustments of ±2.5 basis points based on greenhouse gas emission reduction goals.

Who are the lead arrangers for Highwoods Properties' (HIW) 2025 term loan?

The Joint Lead Arrangers are BofA Securities, Wells Fargo Securities, PNC Capital Markets, TD Bank, Truist Securities, and U.S. Bank National Association, with BofA Securities, Wells Fargo Securities, and PNC Capital Markets as Joint Bookrunners.