Cousins Properties Closes New $1B Unsecured Credit Facility
Monday, January 8th, 2018
Cousins Properties announced 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.