AvalonBay Communities, Inc. (NYSE: AVB) announced today that it priced a $400 million offering of unsecured notes with a maturity of 2020 under its existing shelf registration statement. Details of the transaction are set forth in the table below:
Yield to Investors
3.625% Medium TermNotes due October 1, 2020
October 1, 2020
Interest on the notes will be paid semi-annually on April 1 and October 1, with the first payment to be made on April 1, 2014. Settlement is scheduled for September 20, 2013.