This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

MAA Announces Preliminary Results For Exchange Offers And Consent Solicitations Relating To Senior Notes Previously Issued By Colonial Realty Limited Partnership

MEMPHIS, Tenn., Nov. 26, 2013 /PRNewswire/ -- Mid-America Apartment Communities, Inc. (NYSE: MAA) today announced the preliminary results of the previously announced exchange offers by its operating partnership, Mid-America Apartments, L.P. ("MAALP"), to exchange any and all of the 6.25% Senior Notes due 2014 (CUSIP No. 195891 AG1) (the "Existing 2014 Notes"), 5.50% Senior Notes due 2015 (CUSIP No. 195891 AJ5) (the "Existing 2015 Notes") and 6.05% Senior Notes due 2016 (CUSIP No. 195889 AA8) (the "Existing 2016 Notes" and, collectively with the Existing 2014 Notes and the Existing 2015 Notes, the "Existing Notes") issued by Colonial Realty Limited Partnership, a wholly owned subsidiary of MAALP ("CRLP"), for MAALP's new 6.25% Senior Notes due 2014 (the "New 2014 Notes"), 5.50% Senior Notes due 2015 (the "New 2015 Notes") and 6.05% Senior Notes due 2016 (the "New 2016 Notes" and collectively with the New 2014 Notes and the New 2015 Notes, the "New Notes"), respectively, each with registration rights (collectively and, including the related consent solicitations, the "Exchange Offers"). MAALP has been advised by D.F. King & Co., Inc., the information agent for the Exchange Offers, that holders of:

  • 80.24% of the principal amount of the Existing 2014 Notes; and
  • 90.57% of the principal amount of the Existing 2015 Notes; and
  • 90.54% of the principal amount of the Existing 2016 Notes;

had validly tendered their Existing Notes pursuant to the terms of the Exchange Offers prior to the early participation and consent date of 5:00 p.m., New York City time, on November 25, 2013. Under the terms of the Exchange Offers, holders who have previously tendered their Existing Notes can no longer validly withdraw those notes from the Exchange Offers.

(Logo: http://photos.prnewswire.com/prnh/20110614/CL19184LOGO )

Based on the results announced above, MAALP, on behalf of CRLP, has received the requisite consent from holders of the Existing 2014 Notes, Existing 2015 Notes and Existing 2016 Notes to amend the indentures governing such series of Existing Notes to (1) allow for the satisfaction of CRLP's reporting obligations under such indenture to be satisfied through the filing or delivery of annual reports, quarterly reports and other documents of MAALP, (2) remove substantially all of the restrictive covenants and certain affirmative covenants, (3) eliminate an event of default and (4) modify certain other provisions.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,031.14 +43.63 0.26%
S&P 500 1,984.13 -1.41 -0.07%
NASDAQ 4,518.9020 -48.6960 -1.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs