RALEIGH, N.C., Feb. 22, 2018 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) today announced that Highwoods Realty Limited Partnership, the operating partnership through which the Company conducts its operations, has priced a $350 million offering of 4.125% unsecured notes under its existing shelf registration statement. The notes are due March 15, 2028 and were priced to yield 4.271%. The offering is expected to close on March 5, 2018, subject to customary closing conditions.

The net proceeds from the sale of the notes will be used to repay or repurchase outstanding debt (including the operating partnership’s $200 million unsecured notes due April 15, 2018 and amounts outstanding under the Company’s $600 million revolving credit facility) and for general corporate purposes.

Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Jefferies LLC, BB&T Capital Markets, a division of BB&T Securities, LLC, Capital One Securities, Inc., Regions Securities LLC and U.S. Bancorp Investments, Inc. served as joint book-running managers. Fifth Third Securities, Inc., FTN Financial Securities Corp. and J.P. Morgan Securities LLC 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, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.