American Campus Communities pricing $300 million 10-year notes Monday

By Andrea Heisinger

New York, March 25 - American Campus Communities Operating Partnership LP is in the market Monday with a $300 million offering of 10-year senior notes (Baa3/BBB-/), according to a market source and a 424B5 filing with the Securities and Exchange Commission.

Guidance is in the Treasuries plus 205 basis points area, the source said.

Bookrunners are BofA Merrill Lynch, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC.

Proceeds will be used to repay the outstanding balance of a revolving credit facility, for potential acquisitions of student housing properties and for general business purposes.

The notes are guaranteed by American Campus Communities Inc.

The real estate investment trust for student housing is based in Austin, Texas.

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