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Both loans should closer within60 days. Highwoods HIW) says it will use the money to repa debt and for generallcorporate purposes. “We are very pleaseds with theseloan commitments, which will furthef fortify our already healthy balance sheet, enhance our liquidity and position Highwoods to take advantage of future growth opportunities,” Ed president and chief executive officer, said in a written statement. According to Highwoods, the two loan are: * A $115.0 million, 6.5-yead secured loan provided by at a fixed rateof 6.875 It is secured by a pool of 10 asset s in Nashville, Raleigh and Tampa. * A $47.3 million, 7-yeae secured loan arranged by at a fixed rateof 7.
5 It is secured by the officwe portion of RBC Plaza in Raleigh. Highwood also announced that it has paid off a securede loanof $107 million, which carried a rate of 7.8 percentr and was originally scheduled to matur in November 2009. There were no prepaymentt penalties.
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