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AvalonBay selling 10-year medium-term notes in Wednesday's session
By Andrea Heisinger
New York, Dec. 5 - AvalonBay Communities, Inc. is in the market with an offering of medium-term notes due 2023 (Baa1/BBB+/) on Wednesday, according to a 424B5 filing with the Securities and Exchange Commission.
Goldman Sachs & Co. is lead bookrunner. J.P. Morgan Securities LLC and UBS Securities LLC are assisting on the sale.
Proceeds will be used for general corporate purposes, including repayment of a portion of debt expected to be assumed in connection with the acquisition of the Archstone Portfolio or the repayment of a portion of current outstanding debt.
The manager and developer of apartment communities is based in Arlington, Va.
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