AvalonBay Communities offers fixed-rate notes via three bookrunners

By Devika Patel

Knoxville, Tenn., May 8 – AvalonBay Communities, Inc. intends to conduct an offering of fixed-rate medium-term notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will have a make-whole call followed by a par call.

Barclays, J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to reduce debt under AvalonBay’s $1.75 billion unsecured revolving credit facility and for general corporate purposes.

The manager and developer of apartment communities is based in Arlington, Va.

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