HIW · 10-Q · 2026Q1 · Full report

Revolving Credit Facility

HIGHWOODS PROPERTIES, INC. · 2026-04-28 · Importance 49 · Surprise 6

Highwoods' unsecured revolving credit facility has a $750.0 million capacity and is scheduled to mature in January 2028, with two additional six‑month extensions available at the Company’s option. The facility's interest rate is SOFR plus a related spread adjustment of 10 basis points and a borrowing spread of 85 basis points, and an annual facility fee of 20 basis points; the rate can be adjusted by ±2.5 basis points tied to sustainability goals. There was $175.0 million outstanding under the revolver and $0.1 million in letters of credit as of March 31 and April 21, 2026, leaving $574.9 million of unused capacity. Management uses the revolver for working capital, short-term funding of development and acquisitions, and to respond to opportunistic needs.

Key facts

• The unused capacity of the Company’s $750.0 million revolving credit facility was $574.9 million as of both March 31, 2026 and April 21, 2026.
• The interest rate on the revolving credit facility may be adjusted upward or downward by 2.5 basis points depending on achievement of certain sustainability goals with respect to greenhouse gas emissions reduction.
• The Company’s $750.0 million unsecured revolving credit facility is scheduled to mature in January 2028 and can be extended for two additional six-month periods at the Company’s option.
• The interest rate on the Company’s revolving credit facility is SOFR plus a related spread adjustment of 10 basis points and a borrowing spread of 85 basis points based on current credit ratings, and the annual facility fee is 20 basis points.
• As of April 21, 2026, the Company had approximately $32 million of existing cash and $175.0 million drawn on its $750.0 million revolving credit facility.
• There was $175.0 million outstanding under the Company’s revolving credit facility as of both March 31, 2026 and April 21, 2026.
• As of both March 31, 2026 and April 21, 2026, the Company had $0.1 million of outstanding letters of credit reducing availability under the revolving credit facility.