RALEIGH, N.C., July 30, 2020 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE: HIW) announced today that Highwoods Realty Limited Partnership, the operating partnership through which the Company conducts its operations, has priced a $400 million offering of 2.600% unsecured notes under its existing shelf registration statement. The notes are due February 1, 2031 and were priced to yield 2.645%. The offering is expected to close on August 13, 2020, subject to customary closing conditions.

The operating partnership intends to use the net proceeds from the sale of the notes to finance the tender offer for the operating partnership’s outstanding 3.20% Notes due 2021, to repay outstanding debt (including the amounts outstanding under its $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.

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 served as joint book-running managers. FHN Financial Securities Corp. and Fifth Third Securities, Inc. served as co-managers.

About Highwoods

Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (“REIT”) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.