Cousins sells $500M 4.875% notes due 2033 to refinance 300 South Tryon debt

Cousins taps bond market to refinance Tryon acquisition debt

Cousins Properties is selling $500 million of 4.875% senior unsecured notes due 2033 to shore up borrowings tied to its recent acquisition of 300 South Tryon in Charlotte. The operating partnership, Cousins Properties LP, prices the notes at 99.259% of par and expects the transaction to close on Feb. 20, 2026, subject to customary conditions. Cousins fully and unconditionally guarantees the notes on a senior unsecured basis.

The company says net proceeds will repay a portion of borrowings under its credit facility that were partially incurred to fund the 638,000‑square‑foot “trophy lifestyle” office property at 300 South Tryon. Any remaining proceeds are available for working capital, capital expenditures and other general corporate purposes, which may include repayment of other outstanding indebtedness, including part of its term loan. The financing is positioned to convert short‑term or revolving borrowings into a longer‑dated fixed‑rate instrument.

Cousins appoints J.P. Morgan, BofA Securities, Morgan Stanley and PNC Capital Markets as joint book‑running managers for the offering, which is conducted off an effective shelf registration with the U.S. Securities and Exchange Commission. The company frames the note sale as part of its capital management strategy to support core office holdings and development activity in its focus markets across the Sun Belt.

Regulatory filing and distribution

The offering is being made only by prospectus supplement and accompanying prospectus, documents the managers can provide or which are available on SEC.gov. The press release notes the announcement is not an offer to sell or a solicitation to buy the securities in any jurisdiction where such an offer would be unlawful prior to registration or qualification.

Company background

Based in Atlanta and founded in 1958, Cousins Properties is a fully integrated, self‑administered and self‑managed real estate investment trust that primarily invests in Class A office buildings in high‑growth Sun Belt markets, pursuing value through development, acquisition, leasing and property management.