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TheStreet Open House

AvalonBay Communities Prices $350 Million Unsecured Notes Offering

Stocks in this article: AVB

AvalonBay Communities, Inc. (NYSE: AVB) (the “Company”) announced today that it priced a $350 million offering of unsecured notes with a maturity of December 15, 2023 under its existing shelf registration statement. Details of the transaction are set forth in the table below:

         

Principal Amount

Maturity Date

Issue Price

Coupon Rate

Yield to Investors

 

4.200% Medium Term Notesdue December 15, 2023

$350 million December 15, 2023 99.806% 4.200% 4.224%
 
 

Interest on the notes will be paid semi-annually on June 15 and December 15, with the first payment to be made on June 15, 2014. Settlement is scheduled for December 16, 2013.

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