Cousins Increases Credit Line to $275 Mil

ATLANTA-Cousins Properties Inc. has added six name financial institutions as new backers of its increased $275 million credit line. The banks also extended the repayment term for the locally based developer to 2004.

Cousins expanded its unsecured revolving credit facility by $125 million. The company draws on the money to fund short-term and long-term cash needs.

The consortium is co-led by Bank America, as administrative agent, and Wachovia Bank, as syndication agent. New institutions are Commerzbank, documentation agent; Dresdner Bank and Wells Fargo Bank, managing agents; PNC Bank and South Trust, co-agents; and Coamerica, participant.