debt
confidence high
sentiment neutral
materiality 0.55
Cousins Properties issues $500M 5.875% senior notes due 2034
COUSINS PROPERTIES INC
- $500M aggregate principal of 5.875% Senior Notes due October 1, 2034 issued by Cousins Properties LP.
- Notes fully and unconditionally guaranteed by parent Cousins Properties Incorporated (CUZ).
- Net proceeds to repay revolving credit facility loans; remainder for working capital, capex, and other debt repayment.
- Redemption at option before July 1, 2034 at the greater of par or make-whole premium plus accrued interest.
- Covenants include maintenance of total unencumbered assets at not less than 150% of total unsecured debt.