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Highwoods Properties prices $350M debt offering

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Highwoods Properties prices $350M debt offering

Highwoods Properties Inc.'s operating partnership priced an offering of $350 million of 4.125% unsecured notes due March 15, 2028. The notes were priced to yield 4.271% yield.

The office real estate real estate investment trust said the offering is slated to close March 5.

Net proceeds will go toward repaying or repurchasing outstanding debt, including amounts outstanding under the company's $600 million revolving credit facility and the operating partnership's $200 million unsecured notes due April 15, 2018. The remaining funds will be used for general corporate purposes.

Wells Fargo Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc., Jefferies LLC, BB&T Capital Markets, Capital One Securities Inc., Regions Securities LLC and U.S. Bancorp Investments Inc. were the joint book-running managers. Fifth Third Securities Inc., FTN Financial Securities Corp. and J.P. Morgan Securities LLC were the co-managers.