04:50 PM EST, 12/12/2024 (MT Newswires) -- Cousins Properties ( CUZ ) said late Thursday that its operating partnership Cousins Properties LP priced a $400 million offering of 5.375% senior unsecured notes due 2032 at 99.463% of the principal amount.

The offering is slated to close on Dec. 17, the company said.

Net proceeds will be used to partially back the purchase of Sail Tower, an office property in Austin, and the rest will be used to repay debt and for general corporate purposes, Cousins said.

If the Sail Tower deal doesn't materialize, Cousins will use the net proceeds for general corporate purposes, it said.