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Mid-America Apartment Communities unit closes $250M debt offering

Mid-America Apartment Communities Inc. said its operating partnership issued $250.0 million of its 3.950% senior notes due March 15, 2029, at the close of its offering on Aug. 7.

The 3.950% annual interest on the notes, issued by Mid-America Apartments LP, is payable semiannually in arrears every March 15 and Sept. 15, starting Sept. 15.

The multifamily real estate investment trust said earlier that part of the net proceeds will go toward repaying a portion of the borrowings outstanding under its unsecured commercial paper program.

U.S. Bank NA is the trustee for the notes.