The company said the operating partnership, Mid-America Apartments, L.P., priced an issue of $400,000,000 of 5.300% senior unsecured notes due February 15, 2032. The notes were priced at 99.496% of principal amount.

1. 01

   The company said the operating partnership, Mid-America Apartments, L.P., priced an issue of $400,000,000 of 5.300% senior unsecured notes due February 15, 2032. The notes were priced at 99.496% of principal amount.

2. 02

   The company said the operating partnership plans to use the net proceeds to repay outstanding borrowings under its unsecured commercial paper program. It said any remaining net proceeds will be used for general corporate purposes, which may include repaying other debt and the acquisition, development and redevelopment of apartment communities.

3. 03

   MAA said the operating partnership entered into an underwriting agreement on May 13, 2024 with underwriters led by Wells Fargo Securities, Citigroup Global Markets, J.P. Morgan Securities, PNC Capital Markets and TD Securities (USA). The offering is expected to close on May 22, 2024, subject to customary closing conditions.

4. 04

   The company said the notes are being issued under the operating partnership's existing shelf registration statement, and that the securities will be offered only by means of a prospectus supplement and accompanying prospectus. It also said KeyBanc Capital Markets Inc. was among the joint book-running managers.

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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

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