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Mid-America Apartment Communities logoMid-America Apartment Communities MAA

The company said its subsidiary, Mid-America Apartments, L.P. (the Operating Partnership), entered into an underwriting agreement on January 4, 2024 and on January 10 issued and sold $350 million of 5.000% Senior Notes due 2034.

8-KOther EventsFiled Period of report Summary published (UTC)

Key points

AI summary
  1. The company said its subsidiary, Mid-America Apartments, L.P. (the Operating Partnership), entered into an underwriting agreement on January 4, 2024 and on January 10 issued and sold $350 million of 5.000% Senior Notes due 2034.

  2. The company said the Notes bear interest at 5.000% per year, payable semi-annually in arrears on March 15 and September 15, beginning on September 15, 2024. The Notes mature on March 15, 2034.

  3. The company said the Operating Partnership may redeem the Notes in whole or in part at any time before December 15, 2033 by paying a make-whole premium plus accrued and unpaid interest, and on or after December 15, 2033 at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest.

  4. The company said the terms of the Notes are governed by an indenture dated May 9, 2017, as supplemented by a seventh supplemental indenture dated January 10, 2024, and that the underwriting agreement involved 5 underwriter representatives, including Wells Fargo Securities, LLC.

Summary

AI-written

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

$350 million 5.000% Senior Notes Due 2034 Issued

The company said its subsidiary, Mid-America Apartments, L.P. (the Operating Partnership), entered into an underwriting agreement on January 4, 2024 and on January 10 issued and sold $350 million of 5.000% Senior Notes due 2034.

Source · Based on the filing body and exhibits

5.000% Annual Interest and March 15, 2034 Maturity

The company said the Notes bear interest at 5.000% per year, payable semi-annually in arrears on March 15 and September 15, beginning on September 15, 2024. The Notes mature on March 15, 2034.

Source · Based on the filing body and exhibits

Make-Whole Premium Early Redemption Terms

The company said the Operating Partnership may redeem the Notes in whole or in part at any time before December 15, 2033 by paying a make-whole premium plus accrued and unpaid interest, and on or after December 15, 2033 at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest.

Source · Based on the filing body and exhibits

Underwriters and Base Indenture Structure

The company said the terms of the Notes are governed by an indenture dated May 9, 2017, as supplemented by a seventh supplemental indenture dated January 10, 2024, and that the underwriting agreement involved 5 underwriter representatives, including Wells Fargo Securities, LLC.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.