Highwoods Properties Extends $200 Million Term Loan Until January 2018
Highwoods Properties (NYSE: HIW) today announced that it has extended its $200 million unsecured term loan. The loan, which was originally scheduled to mature on February 25, 2016, is now scheduled to mature on January 12, 2018. Based on the Company's current credit ratings, the modified loan bears interest at LIBOR plus 1.65%, a 55 basis point reduction from the original interest rate of LIBOR plus 2.20%.
Ed Fritsch, President and Chief Executive Officer of Highwoods Properties, said, "We are pleased to have extended our unsecured term loan under even more favorable terms and appreciate the continued confidence the participating banks have shown in Highwoods."
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