12/12/2024 | Press release | Distributed by Public on 12/12/2024 15:06
Issuer: | Cousins Properties LP |
Guarantor: | Cousins Properties Incorporated |
Security Type: | Senior Unsecured Notes |
Principal Amount: | $400,000,000 |
Maturity: | February 15, 2032 |
Coupon: |
5.375%
|
Public Offering Price: |
99.463% of the principal amount
|
Yield to Maturity: |
5.464%
|
Spread to Benchmark Treasury: | T+122 bps |
Benchmark Treasury: | 4.125% due November 30, 2031 |
Benchmark Treasury Price and Yield: |
99-09 1/4 / 4.244%
|
Interest Payment Dates: | February 15 and August 15, commencing August 15, 2025 |
Redemption Provisions: | |
Make-whole call | Prior to December 15, 2031 at a discount rate of Treasury plus 20 basis points |
Par Call: | On or after December 15, 2031 (two months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest thereon to, but not including, the redemption date |
Trade Date: | December 12, 2024 |
Settlement: |
T+3; December 17, 2024. Under Rule 15c6-1 under the Securities Exchange Act of 1934, trades in the secondary market are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes prior to the first business day preceding the closing date of this offering will be required, by virtue of the fact that the notes initially settle in T+3, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement.
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CUSIP: | 222793 AB7 |
ISIN: | US222793AB73 |
Ratings (Moody's/S&P)*: | Baa2 / BBB |
Minimum denomination | $2,000 and integral multiples of $1,000 in excess thereof. |
Joint Book-Running Managers: | J.P. Morgan Securities LLC |
Truist Securities, Inc.
U.S. Bancorp Investments, Inc.
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BofA Securities, Inc.
Morgan Stanley & Co. LLC
PNC Capital Markets LLC
TD Securities (USA) LLC
Wells Fargo Securities, LLC
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Co-Manager | FHN Financial Securities Corp. |