Cousins Properties LP, the company's operating partnership, priced an offering of $500 million aggregate principal amount of 5.250% senior unsecured notes due 2030. The notes were priced at 99.987% of the principal amount.
The offering is expected to close on June 6, 2025, subject to customary closing conditions. Cousins intends to use the net proceeds to repay the outstanding principal amount of its privately placed senior notes due 2025.
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 refinancing and enhances the company's overall financial liquidity and flexibility.
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