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UDR prices $300M debt offering

UDR Inc. priced a $300 million debt offering, with net proceeds earmarked for general corporate purposes.

The offering, set to close June 16, comprises 3.500% senior unsecured notes due July 1, 2027. The company priced the notes at 99.764% of the principal amount plus accrued interest from June 16, to yield 3.528% to maturity.

Interest on the notes is payable semiannually every Jan. 1 and July 1, with the first interest payment due Jan. 1, 2018.

Citigroup, J.P. Morgan and Wells Fargo Securities are the joint book-running managers, with BB&T Capital Markets, PNC Capital Markets LLC, Regions Securities LLC, TD Securities and US Bancorp serving as co-managers for the offering.