CUZ · Cousins Properties Incorporated

Cousins Properties Incorporated has successfully amended and restated its primary credit facilities, significantly extending the maturity profile of its debt obligations. The Sixth Amended and Restated Credit Agreement extends the maturity of the $1.2 billion unsecured revolving credit facility by approximately four years, from April 30, 2027, to April 1, 2031. This extension provides substantial liquidity runway and reduces refinancing risk in the near to medium term. Concurrently, the Company amended its Delayed Draw Term Loan Agreement and Amended and Restated Term Loan Agreement, adding extension options that push final maturities to March 3, 2028, and August 15, 2027, respectively.

The amendments also introduce a pricing grid based on the Company's debt rating, which aligns borrowing costs with credit quality. The facility maintains financial covenants typical for REIT credit agreements, including a consolidated unencumbered interest coverage ratio of at least 1.75x and a consolidated leverage ratio cap of 60%. The structure of the new facility, co-led by JP Morgan, BofA Securities, Truist Securities, and PNC Capital Markets, reflects continued strong banking relationships. The use of proceeds for general corporate purposes, including debt repayment and acquisitions, provides financial flexibility for the Company's strategic initiatives.