Sun Communities plans to conduct offering of senior notes

By Devika Patel

Knoxville, Tenn., June 17 – Sun Communities Operating LP intends to price an offering of fixed-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes have a make-whole call and then a par call.

The notes will be guaranteed by Sun Communities, Inc., a Southfield, Mich.-based real estate investment trust.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BofA Securities Inc., BMO Capital Markets Corp. and RBC Capital Markets LLC are the bookrunners.

Proceeds will be used to repay debt under the company’s senior credit facility, to fund possible acquisitions of properties and for working capital and general corporate purposes.

Sun Communities Operating is the primary operating subsidiary of Sun Communities, Inc.

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