Cousins Properties Closes New $1 Billion Unsecured Credit Facility
ATLANTA, Jan. 4, 2018 /PRNewswire/ -- Cousins Properties (NYSE: CUZ) announced today it has closed on a new five-year, $1 billion unsecured credit facility. This facility replaces the Company's existing $500 million facility, which was scheduled to mature in May 2019.
"This new facility, when combined with our simple, low-levered balance sheet, positions Cousins to take advantage of future investment opportunities as they arise," said Larry Gellerstedt, Chairman and Chief Executive Officer of Cousins.
J.P. Morgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated and SunTrust Robinson Humphrey, Inc. served as Joint Lead Arrangers and Joint Book Runners. JPMorgan Chase Bank, N.A. served as Syndication Agent. Bank of America, N.A. will serve as Administrative Agent. SunTrust Bank acted as Documentation Agent and Wells Fargo Bank, N.A., PNC Bank, N.A., U.S. Bank N.A., Citizens Bank N.A., and Morgan Stanley Senior Funding, Inc. acted as Co-Documentation Agents. Other lenders include TD Bank, N.A. and First Tennessee Bank, N.A.
About Cousins Properties
Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class-A office towers located in high growth Sunbelt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing, and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets, and opportunistic investments. For more information, please visit www.cousins.com.
Vice President, Investor Relations
SOURCE Cousins Properties