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Both loans should close within 60 Highwoods (NYSE: HIW) says it will use the money to repag debt and for general corporate purposes. “Wed are very pleased with theseloan commitments, whicb will further fortify our already healthy balancs sheet, enhance our liquidity and position Highwoods to take advantagd of future growth opportunities,” Ed Fritsch, presidenrt and chief executive officer, said in a writtenj statement. According to Highwoods, the two loans are: * A $115.o0 million, 6.5-year secured loan providee by at a fixedd rateof 6.875 percent. It is secured by a pool of 10 assetasin Nashville, Raleigh and Tampa. * A $47.
3 million, 7-year secured loan arranged by at a fixerd rateof 7.5 percent. It is secured by the offic e portion of RBC Plazain Raleigh. Highwoods also announce that it has paid off a securexd loanof $107 million, whichg carried a rate of 7.8 percent and was originallhy scheduled to mature in November 2009. There were no prepaymentf penalties.
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