Mid-America to price fixed-rate senior notes via five bookrunners

By William Gullotti

Buffalo, N.Y., Jan. 4 – Mid-America Apartments, LP intends to price fixed-rate senior notes (//A-), according to a 424B5 filed with the Securities and Exchange Commission.

The notes will feature a make-whole call until some months prior to maturity, followed by a par call.

Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc. are the joint bookrunning managers.

U.S. Bank NA is the trustee.

Bass, Berry & Sims plc is counsel for the issuer. Sidley Austin LLP is counsel for the underwriters.

Proceeds will be used to repay all or a portion of the borrowings outstanding under the company’s $625 million unsecured commercial paper program, and any remaining net proceeds will be used for general corporate purposes. As of Dec. 31, $495 million was outstanding under the program at a weighted average effective rate of 5.68% and a weighted average maturity of 26.1 days.

Mid-America Apartments is a Germantown, Tenn.-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.