trending Market Intelligence /marketintelligence/en/news-insights/trending/_poz74re6jtox5n80eos4a2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

AvalonBay settles medium-term notes offering

OTT Winners, Losers In The Age Of COVID-19

After Growing In 2019, Latam FTTP Market Might Slowdown In 2020 Due To COVID-19

Another Outcome Of COVID-19: Olympics Postponed

COVID-19 Crisis: Legacy TV Universe Strategic Analysis


AvalonBay settles medium-term notes offering

AvalonBayCommunities Inc. settled a public offering of two medium-termnotes, which were priced Sept. 26.

Settlement took place Oct. 5, and the notes bear interestfrom that date.

The offering comprised 2.90% medium-term notes due Oct. 15,2026, and 3.90% medium-term notes due Oct. 15, 2046, with aggregate principalamounts of $300.0 million and $350.0 million, respectively. Interest on thenotes is payable semiannually every April 15 and Oct. 15, starting in 2017.

AvalonBay will use the roughly $641.8 million in aggregatenet proceeds to cut outstanding debt under its $1.50 billion unsecuredrevolving credit facility and for general corporate purposes, which may includeapartment community acquisitions, developments and redevelopments, and otherdebt repayment and refinancing. It will also apply a portion of the netproceeds toward the full redemption during the fourth quarter of its 5.70%notes due March 15, 2017, which had a $250 million outstanding amount as ofAug. 31.

Merrill Lynch Pierce Fenner & Smith Inc. and BarclaysCapital Inc. were the representatives of the agents named in the termsagreement for the notes.