American Homes (AMH) has released an update.
American Homes 4 Rent’s operating partnership entered into an agreement with Wells Fargo Securities, LLC, BofA Securities, Inc., and J.P. Morgan Securities LLC to sell $600 million in 5.500% Senior Notes due 2034 at just under par value, with semi-annual interest payments starting August 2024. The expected net proceeds are approximately $594 million, with the closing date set for January 30, 2024. The proceeds are intended to finance Eligible Projects and repay existing debts, with temporary investments until full allocation. The partnership also provided standard legal assurances to the underwriters.
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