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Mid-America Apartment Communities prices $250M debt offering

Mid-America Apartment Communities Inc.'s operating partnership priced a $250 million offering of 3.950% senior unsecured notes due March 15, 2029, at 107.827% of the notes' principal amount, plus applicable interest, with a reoffer yield of 2.985%.

Mid-America Apartments LP is offering the securities as additional notes under an indenture under which it issued $300 million of 3.950% senior notes due 2029.

The company expects to close the offering Aug. 7 and aims to use the net proceeds to repay part of the borrowings outstanding under its unsecured commercial paper program, and for general corporate purposes.

Wells Fargo Securities LLC, Citigroup Global Markets Inc., Jefferies LLC, J.P. Morgan Securities LLC, U.S. Bancorp Investments Inc. and Mizuho Securities USA LLC were the joint book-running managers.