Camden Property Trust Prices $500 Million 5.850% Senior Unsecured Notes Due 2026
01 11월 2023 - 5:51AM
Business Wire
Camden Property Trust (NYSE:CPT) today announced it has priced a
$500 million offering of senior unsecured notes under its existing
shelf registration. These three-year notes were issued at 99.997%
of par value with a coupon of 5.850%. Interest on the notes is
payable semi-annually on May 3 and November 3, with the first
payment becoming due and payable on May 3, 2024, and the notes will
mature on November 3, 2026. Camden expects to use the net proceeds
of approximately $496.9 million to repay a portion of the
outstanding balance on its unsecured revolving credit facility and
for general corporate purposes, which may include property
acquisitions and development in the ordinary course of business,
capital expenditures and working capital. Settlement is scheduled
for November 3, 2023, subject to customary closing conditions.
BofA Securities, Inc., J.P. Morgan Securities LLC, PNC Capital
Markets LLC, Truist Securities, Inc., U.S. Bancorp Investments,
Inc. and Regions Securities LLC are Joint Book-Running Managers.
Scotia Capital (USA) Inc., TD Securities (USA) LLC, BMO Capital
Markets Corp. and Mizuho Securities USA LLC are Senior Co-Managers
and BNP Paribas Securities Corp., Deutsche Bank Securities Inc.,
M&T Securities, Inc., Wells Fargo Securities, LLC and Samuel A.
Ramirez & Company, Inc. are Co-Managers in the transaction.
Camden has filed a registration statement (including a
prospectus) with the Securities and Exchange Commission (SEC) for
the offering to which this communication relates. Before you
invest, you should read the prospectus in this registration
statement and other documents Camden has filed with the SEC for
more complete information about Camden and this offering. You may
get these documents for free by visiting EDGAR on the SEC website
at www.sec.gov. Alternatively, Camden, any underwriter or any
dealer participating in the offering will arrange to send you the
prospectus if you request it by calling BofA Securities, Inc.
toll-free at (800) 294-1322, J.P. Morgan Securities LLC collect at
(212) 834-4533, PNC Capital Markets LLC toll-free at (855)
881-0697, U.S. Bancorp Investments, Inc. toll-free at (877)
558-2607, or Truist Securities, Inc. toll-free at (800)
685-4786.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these notes in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any state or other
jurisdiction.
In addition to historical information, this press release
contains forward-looking statements under the federal securities
law. These statements are based on current expectations, estimates,
and projections about the industry and markets in which Camden
operates, management's beliefs, and assumptions made by management.
Forward-looking statements are not guarantees of future performance
and involve certain risks and uncertainties which are difficult to
predict. Factors which may cause Camden’s actual results or
performance to differ materially from those contemplated by
forward-looking statements are described under the heading “Risk
Factors” in Camden’s Annual Report on Form 10-K and in other
filings with the SEC. Forward-looking statements made in today’s
press release represent management’s current opinions at the time
of this publication, and Camden assumes no obligation to update or
supplement these statements because of subsequent events.
Camden Property Trust, an S&P 500 Company, is a real estate
company primarily engaged in the ownership, management,
development, redevelopment, acquisition, and construction of
multifamily apartment communities. Camden owns and operates 172
properties containing 58,961 apartment homes across the United
States. Upon completion of 5 properties currently under
development, the Company’s portfolio will increase to 60,514
apartment homes in 177 properties. Camden has been recognized as
one of the 100 Best Companies to Work For® by FORTUNE magazine for
16 consecutive years, most recently ranking #33. For additional
information, please contact Camden’s Investor Relations Department
at (713) 354-2787.
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version on businesswire.com: https://www.businesswire.com/news/home/20231031549157/en/
Kim Callahan, 713-354-2549
Camden Property (NYSE:CPT)
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Camden Property (NYSE:CPT)
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