By Devika Patel
Knoxville, Tenn., May 26 – Invitation Homes, Inc. sold $300 million of senior unsecured notes in two tranches at a weighted average coupon of 2.82% on May 25, according to an 8-K filed with the Securities and Exchange Commission.
The notes, both priced at par and including a make-whole call, include $150 million of 2.46% seven-year series A notes and $150 million of 3.18% 15-year series B notes.
Proceeds will be used for general corporate purposes including voluntary prepayment of the highest-cost classes of various securitizations due to reach final maturity between December 2024 and January 2026.
Invitation Homes is a Dallas-based property manager.
| Issuer: | Invitation Homes, Inc.
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| Issue: | Senior unsecured notes
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| Amount: | $300 million
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| Price: | Par
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| Call: | Make-whole call
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| Settlement date: | May 25
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| Distribution: | Private placement
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|
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| Series A notes
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| Amount: | $150 million
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| Maturity: | May 25, 2028
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| Coupon: | 2.46%
|
|
|
| Series B notes
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| Amount: | $150 million
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| Maturity: | May 25, 2036
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| Coupon: | 3.18%
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