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AvalonBay plans to price fixed-rate medium-term notes
By Lisa Kerner
Charlotte, N.C., May 4 – AvalonBay Communities, Inc. will offer fixed-rate medium-term notes, according to a form 424B2 filed with the Securities and Exchange Commission.
Morgan Stanley & Co. LLC and UBS Securities LLC are the joint bookrunners.
Proceeds will be used to reduce debt outstanding under the company’s $1.5 billion unsecured revolving credit facility and for general corporate purposes, which may include the acquisition, development and redevelopment of apartment communities.
The manager and developer of apartment communities is based in Arlington, Va.
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