Cousins Properties LP, the company's operating partnership, priced an offering of $400 million aggregate principal amount of 5.375% senior unsecured notes due 2032. The notes were priced at 99.463% of the principal amount.
The offering is expected to close on December 17, 2024, subject to customary closing conditions. Cousins intends to use the net proceeds to fund a portion of the purchase price of Sail Tower in Austin.
The remaining proceeds will be used to repay borrowings under its credit facility and for general corporate purposes. This debt issuance provides substantial capital for a major acquisition and enhances the company's overall financial liquidity and flexibility.
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