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June 10, 2014 /PRNewswire/ -- Mid-America Apartment Communities, Inc. (NYSE: MAA) today announced that its operating partnership, Mid-America Apartments, L.P. (MAALP), priced a
$400 million offering of MAALP's 3.750% senior unsecured notes due 2024 (the "Notes") under its existing shelf registration statement. The Notes were priced at 98.873% of the principal amount. The closing of the offering is expected to occur on
June 13, 2014, subject to customary closing conditions.
MAALP intends to use net proceeds from the offering to repay all borrowings outstanding under its
$200 million secured credit facility, substantially all of the borrowings outstanding under its
$500 million revolving credit facility and for general corporate purposes.
J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Jefferies LLC and U.S. Bancorp Investments, Inc. were the joint book-running managers for the offering.
Copies of the prospectus and related prospectus supplement relating to the offering may be obtained from: J.P. Morgan Securities LLC, 383 Madison Avenue,
New York, NY 10179, Attention: Investment Grade Syndicate Desk, or by calling: 212-834-4533 collect, Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd. NC0675,
Charlotte, NC 28262, Attention: Capital Markets Client Support, or by calling: 800-326-5897, or Jefferies LLC, 520 Madison Avenue,
New York, New York 10002, Attention: Debt Syndicate Prospectus Department, or by calling: 877-547-6340.
A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This announcement shall not constitute an offer to sell or a solicitation of an offer to buy the notes, nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation, or sale would be unlawful under the securities laws of any such jurisdiction.