Mid-America Apartment Communities (NYSE: MAA) Enters Into Underwriting Agreement for Senior Notes Offering

On December 11, 2024, Mid-America Apartment Communities, Inc. (MAA) made significant strides in its financial pursuits as Mid-America Apartments, L.P. (the “Operating Partnership”) finalized an underwriting agreement with multiple underwriters. This agreement, entered into on December 11, 2024, is in connection with a public offering amounting to $350 million aggregate principal amount of the Operating Partnership’s 4.950% Senior Notes due 2035.

The underwriters for this offering, as outlined in Schedule 1 of the Underwriting Agreement, include Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Truist Securities, Inc., and U.S. Bancorp Investments, Inc. The offering is expected to close on December 18, 2024, subject to customary closing conditions.

The specifics of the Underwriting Agreement, detailing the terms and conditions, have been provided in full within Exhibit 1.1 of the Current Report on Form 8-K filed by Mid-America Apartment Communities.

This financial endeavor marks a pivotal moment for the company, enabling it to leverage the net proceeds from the offering. These proceeds are intended for the repayment of borrowings under the unsecured commercial paper program of the Operating Partnership. Any remaining net proceeds are earmarked for general corporate purposes, encompassing potential debt repayments and investments in property acquisition, development, and redevelopment.

Mid-America Apartment Communities, Inc. simultaneously issued a press release on December 11, 2024, regarding these developments. The company furnished a copy of this press release as Exhibit 99.1 to the Form 8-K submission.

Investors and other interested parties can access the full details of the underwriting agreement, press release, and related information in the Securities and Exchange Commission filing under Form 8-K submitted by Mid-America Apartment Communities, Inc. on December 11, 2024.

This event underscores MAA’s commitment to strategic financial planning and capital structure management, setting the stage for potential growth and operational enhancements in the upcoming periods.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Mid-America Apartment Communities’s 8K filing here.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.