Highwoods Prices $350 Million of 7.65% Notes Due 2034

RALEIGH, N.C., Nov. 14, 2023 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE: HIW) (the “Company”) announced today that Highwoods Realty Limited Partnership, the operating partnership through which the Company conducts its operations, has priced a $350 million offering of 7.65% unsecured notes under its existing shelf registration statement. The notes are due February 1, 2034 and were priced to yield 7.836%. The offering is expected to close on November 21, 2023, subject to customary closing conditions.  

The operating partnership intends to use the net proceeds from the sale of the notes to repay outstanding debt (including the amounts outstanding under its $750 million unsecured revolving credit facility and a $200 million unsecured bank term loan) and for general corporate purposes.

PNC Capital Markets LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, TD Securities (USA) LLC, Wells Fargo Securities, LLC, Regions Securities LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc. served as joint book-running managers, and FHN Financial Securities Corp. and Samuel A. Ramirez & Company, Inc. served as co-managers for the offering.

This offering is being made pursuant to an effective shelf registration statement, and only by means of a prospectus supplement and accompanying prospectus. Copies of the preliminary prospectus supplement, the final prospectus supplement (when available) and the accompanying prospectus may be obtained by contacting: PNC Capital Markets LLC at 300 Fifth Avenue, 10th Floor, Pittsburgh, PA 15222, Attention: Fixed Income Transaction Execution, telephone: [phone] or email: [e-mail]; BofA Securities, Inc. at NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department, telephone: [phone] or email: [e-mail]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone: [phone]; TD Securities (USA) LLC at 1 Vanderbilt Avenue, 11th Floor, New York, NY 10017, telephone: [phone]; or Wells Fargo Securities, LLC at 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer Service, telephone: [phone] or email: [e-mail]. Alternatively, you may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.