Cousins Properties Expands Credit Facility.Business Editors ATLANTA--(BUSINESS WIRE)--Sept. 26, 2001 Cousins Properties Incorporated (NYSE NYSE See: New York Stock Exchange :CUZ CUZ Because cuz Cousin CUZ Cuzco, Peru - Tte Velazco Astete (Airport Code) ) today announced that it has expanded its unsecured revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility by $125 million to $275 million and extended the term to August 2004. The credit facility is co-led by Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. as Administrative Agent and Wachovia Bank as Syndication Agent, and includes Commerzbank, Documentation Agent; Dresdner Bank and Wells Fargo, Managing Agents; PNC PNC Purdue University North Central (Westville, Indiana) PnC Point 'n Click PNC Police National Computer PNC People's National Congress (Guyana) PNC People's National Congress Bank and SouthTrust, Co-agents; and Coamerica, Participant. Kelly Barrett, senior vice president and chief financial officer of Cousins Properties, stated, "We are pleased to complete this credit facility with a stellar line-up of financial institutions. Bank of America and Wachovia Bank have been our facility lenders for some time. We are proud of our exceptionally strong relationships with these two fine institutions and we are pleased to have added six new widely respected financial institutions to our facility. Combined with our other traditional sources of capital, including non-recourse mortgage financings, financing ventures and select asset sales, we believe this expanded facility will provide sufficient capital for us in the short-term and over time to fund our cash needs." Cousins Properties Incorporated, headquartered in Atlanta, has extensive experience in the real estate industry including the development, acquisition, financing, management and leasing of properties. The property types that Cousins actively invests in include office, retail, medical office and land development projects. The Company's portfolio consists of interests in 12.8 million square feet of office space, 3.1 million square feet of retail space and .9 million square feet of medical office space, and more than 300 acres of strategically located land for future commercial development. Cousins is a fully integrated equity real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) that has been public since 1962 and trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "CUZ." For more information on the Company, please visit Cousins' web site at www.cousinsproperties.com. Certain matters discussed in this news release are forward-looking statements within the meaning of the federal securities laws and are subject to uncertainties and risks, including, but not limited to, general economic conditions, local real estate conditions, interest rates, the Company's ability to obtain favorable financing, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. dated March 9, 2001. |
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