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Highwoods Properties, Inc. (NYSE:HIW), a real estate investment trust with a market capitalization of $3.28 billion and an attractive 6.73% dividend yield, announced this week that it has modified its $200 million unsecured bank term loan, extending the maturity date from May 2026 to January 2029. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 1.44. The company has the option to further extend the term by two additional years, provided no defaults have occurred.
According to a statement in a press release filed with the Securities and Exchange Commission, the interest rate on the loan is set at the Secured Overnight Financing Rate (SOFR) plus 95 basis points. The rate is determined based on the company’s credit ratings, specifically the higher rating published by Moody’s Investors Service or Standard & Poor’s Ratings Services.
The filing also notes that the interest rate may be adjusted by 2.5 basis points, either upward or downward, depending on whether Highwoods Properties achieves certain predetermined sustainability goals related to reducing greenhouse gas emissions.
The amendment to the loan agreement was executed on August 12, 2025, with Bank of America, N.A. acting as Administrative Agent, Wells Fargo Bank, National Association and PNC Bank, National Association as Co-Syndication Agents, and other lenders named in the agreement.
This information is based on a press release statement included in the company’s recent SEC filing.
In other recent news, Highwoods Properties Inc. has announced its Q2 2025 earnings, reporting a slight beat on earnings per share (EPS) with a figure of $0.17, exceeding the forecasted $0.16. Despite this positive EPS result, the company experienced a narrow miss on revenue, reporting $200.6 million compared to the anticipated $201.59 million. In addition to the earnings announcement, Highwoods Properties extended the maturity of its $200 million unsecured bank term loan from May 2026 to January 2029. This extension provides the company with the option to further extend the term by two additional years, contingent on the absence of defaults. The interest rate for this loan is pegged to the company’s credit ratings, determined by the Secured Overnight Financing Rate plus 95 basis points. These recent developments reflect ongoing financial adjustments and performance evaluations for Highwoods Properties.
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