American Campus Communities to repay revolver borrowings via new notes

By Marisa Wong

Los Angeles, June 9 – American Campus Communities Operating Partnership LP plans to repay borrowings under its revolving credit facility using proceeds from an offering of senior notes guaranteed by American Campus Communities, Inc., according to a 424B3 filing with the Securities and Exchange Commission.

The company will also use proceeds from the new notes to fund projects in its current development pipeline and for general business purposes.

The real estate investment trust specializing in student housing properties is based in Austin, Tex.

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