The company said its operating partnership, Mid-America Apartments, L.P., issued and sold $400 million aggregate principal amount of its 5.300% Senior Notes due 2032 on May 22, 2024.

1. 01

   The company said its operating partnership, Mid-America Apartments, L.P., issued and sold $400 million aggregate principal amount of its 5.300% Senior Notes due 2032 on May 22, 2024.

2. 02

   The company said the Senior Notes bear interest at 5.300% per year, payable semi-annually in arrears on February 15 and August 15, with the first interest payment due on August 15, 2024. The notes mature on February 15, 2032.

3. 03

   Mid-America Apartment Communities said the operating partnership may redeem the notes in whole or in part before December 15, 2031 by paying a make-whole premium plus accrued and unpaid interest. On or after December 15, 2031, it may redeem the notes at 100% of the principal amount plus accrued and unpaid interest.

4. 04

   The company said that if an event of default occurs on the notes, including payment defaults, certain covenant defaults, or bankruptcy and insolvency defaults, the entire principal amount of the notes may become immediately due. It said the terms of the notes are governed by the May 9, 2017 indenture and the May 22, 2024 eighth supplemental indenture.

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