Highwoods Boosts LOC to $450M

Highwoods Properties Inc., a real estate investment trust based in Raleigh, N.C., has announced that its $350 million unsecured revolving credit facility has been syndicated with 15 banks and increased to $450 million.The three-year credit facility includes an option to extend it for a year, and at any time before May 1, 2008, Highwoods may request up to $50 million of additional borrowing capacity. The facility was led by Bank of America NA as administrative agent, with Banc of America Securities LLC as sole lead arranger and sole book manager. The company can be found on the Web at http://www.highwoods.com.