Filed Pursuant to Rule 433
Issuer Free Writing Prospectus dated September 15, 2009
Relating to Preliminary Prospectus Supplement dated September 14, 2009
Registration No. 333-158234
Cousins Properties Incorporated
FREE WRITING PROSPECTUS
This free writing prospectus relates only to the securities described below and should be read
together with the preliminary prospectus supplement dated September 14, 2009 and the prospectus
dated April 13, 2009 (the Prospectus) related to the Registration Statement on Form S-3 (File No.
333-158234) (the Registration Statement).
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Issuer:
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Cousins Properties Incorporated (the Company)
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Securities Offered:
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40,000,000 shares of common stock (including
170,000 shares reserved for sale to the Companys
directors, officers, employees, business
associates and related persons)
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Offering Price:
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$7.25 |
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Overallotment Option:
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6,000,000 shares of common stock
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Use of Proceeds:
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The Company intends to use the net proceeds from
the sale of the shares of its common stock to repay approximately $248.0 million of
existing indebtedness under its unsecured
revolving credit facility (the Revolving Credit
Facility). The balance of the net proceeds will
be used for general corporate purposes, which may
include repaying additional indebtedness under
the Revolving Credit Facility. Affiliates of
certain of the underwriters in this offering act
as lenders and/or agents under the Revolving
Credit Facility, and those affiliates therefore
will receive a portion of the proceeds from this
offering through the repayment of those
borrowings. See Conflicts of Interest below.
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Trade Date:
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September 15, 2009
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Settlement Date:
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September 21, 2009
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Joint Book-Running
Managers:
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Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Morgan Stanley & Co. Incorporated
and J.P. Morgan Securities Inc.
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Co-Managers
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Wells Fargo Securities, LLC, PNC Capital Markets
LLC, Morgan Keegan & Company, Inc., RBS
Securities Inc., Piper Jaffray & Co. and Capital
One Southcoast Inc.
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Revised Underwriting Disclosure
The Other Relationships section under Underwriting in the Prospectus is replaced as follows:
Conflicts of Interest
In the ordinary course of business, the underwriters or their affiliates have engaged and may in
the future engage in various financings, banking and investment banking services with, and provide
financial advisory services to, the Company and its affiliates, for which they have received or may
receive customary fees and expenses.
These various financing, banking and investment banking services include: Bank of America, N.A., an
affiliate of Merrill, Lynch Pierce, Fenner & Smith Incorporated, is a lender, swingline lender,
letter of credit lender and
administrative agent under our amended and restated credit facility; Banc of America Securities
LLC, an affiliate of Merrill, Lynch Pierce, Fenner & Smith Incorporated, is the lead arranger under
our amended and restated credit facility; Bank of America, N.A. is a lender, letter of credit
issuer and administrative agent under the CF Murfreesboro Associates loan, and Banc of America
Securities LLC is joint lead arranger and joint book manager under the loan; Bank of America, N.A.
is the counterparty to an ISDA Master Agreement and three Interest Rate Swap Agreements with us;
Bank of America, N.A. is the agent for indebtedness related to our Charlotte Gateway Village
property; an affiliate of J.P. Morgan Securities Inc. is the lender under a commercial real estate
loan to one of our subsidiaries; Regions Bank, an affiliate of Morgan Keegan & Company, Inc., is a
lender and co-agent under our amended and restated credit facility, is a lender and syndication
agent under the Terminus 200 loan and is the lender under the Bentwater Links loan; PNC Bank,
National Association, an affiliate of PNC Capital Markets LLC is a lender and documentation agent
under our amended and restated credit facility, and PNC Bank is a lender under the Terminus 200
loan and the CF Murfreesboro Associates loan; Charter One Bank, N.A., an affiliate of RBS
Securities Inc., is a lender and co-agent under our amended and restated credit facility; and Wells
Fargo Bank, National Association, and Wachovia Bank, National Association, affiliates of Wells
Fargo Securities, LLC, are lenders and documentation agents under our amended and restated credit
facility, Wells Fargo Bank is a lender and administrative agent under the loan with respect to the
Terminus 200 property, Wells Fargo Bank is a lender, syndication agent, joint lead arranger and
joint book manager under the CF Murfreesboro Associates loan, and Wells Fargo Bank is servicing
agent under the 333/555 North Point loan.
Certain of the net proceeds from the sale of common stock, not including underwriting compensation,
will be paid to one or more affiliates of Merrill, Lynch Pierce, Fenner & Smith Incorporated,
Morgan Keegan & Company, Inc., PNC Capital Markets LLC, RBS Securities Inc. and Wells Fargo
Securities, LLC in connection with repayment of debt owed under the Revolving Credit Facility.
Because of the manner in which the net proceeds will be used, this offering is being conducted in
accordance with NASD Rule 2720(a)(1).
THE ISSUER HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH THE SEC FOR THE
OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST, YOU SHOULD READ THE PROSPECTUS IN
THAT REGISTRATION STATEMENT AND OTHER DOCUMENTS THE ISSUER HAS FILED WITH THE SEC FOR MORE COMPLETE
INFORMATION ABOUT THE ISSUER AND THIS OFFERING. YOU MAY OBTAIN THESE DOCUMENTS FOR FREE BY VISITING
EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV. ALTERNATIVELY, THE ISSUER, ANY UNDERWRITER OR ANY DEALER
PARTICIPATING IN THE OFFERING WILL ARRANGE TO SEND TO YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL FREE MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED AT 1-866-500-5408, MORGAN
STANLEY & CO. INCORPORATED AT 1-866-718-1649 AND J.P. MORGAN SECURITIES INC. AT
1-866-430-0686.
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