Highwoods Realty to reduce revolver borrowings via notes offering

By Tali David

Minneapolis, May 19 - Highwoods Realty LP plans to reduce amounts outstanding under its $475 million revolving credit facility maturing Jan. 8, 2018 with the proceeds from a new notes offering, according to a 424B5 filing with the Securities and Exchange Commission release.

Proceeds will also be used for general corporate purposes.

As of May 15, there were about $397 million of outstanding borrowings under the revolver and $100,000 of outstanding letters of credit.

The real estate investment trust is based in Raleigh, N.C.

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