Highwoods extends $200M term loan to 2026, adds $150M delayed-draw term loan

HIGHWOODS PROPERTIES, INC.

$200M unsecured term loan maturity extended from Nov 2022 to May 2026.
New $150M delayed-draw term loan matures May 2027; must be drawn within 90 days.
Interest rates on term loans and $750M revolver converted to SOFR + spread; sustainability metric may reduce rate 1 bp.
Accordion feature on revolver reduced from $550M to $400M.
Proceeds from new loan for working capital, development, acquisitions, and debt repayment.

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