Mid-America Apartments to repay some revolving loans via new notes

By Susanna Moon

Chicago, May 2 – Mid-America Apartments, LP plans to repay some of its $570 million of debt outstanding under its $1 billion revolving credit facility due April 15, 2020 using proceeds of a new issue.

Mid-America plans to price fixed-rate senior notes with proceeds also slated for general corporate purposes, according to a 424B5 filing with the Securities and Exchange Commission.

Interest on the revolving loans was 1.88% as of March 31.

The revolver includes an extension option to Oct. 15, 2020.

Mid-America Apartments is a Memphis-based real estate investment trust.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.