Post Apartment Homes, L.P. Announces Pricing of $250 million 3.375% Notes due 2022
02 Novembre 2012 - 9:01PM
Business Wire
Post Apartment Homes, L.P., the operating subsidiary of Post
Properties, Inc. (NYSE: PPS), announced today that it has priced a
public offering of $250 million aggregate principal amount of
senior unsecured notes due 2022. The notes will bear interest at a
rate of 3.375% and are being offered to investors at a price of
$999.72 per $1,000 in principal amount. Post Apartment Homes, L.P.
intends to use the net proceeds from this offering to redeem the
remaining approximately $130.1 million in principal outstanding of
its 6.30% senior unsecured notes, which mature on June 1, 2013, and
pay premiums and related fees and expenses of approximately $4.1
million in connection therewith and for general corporate purposes,
which may include future property acquisitions. The offering is
expected to close on November 7, 2012, subject to customary closing
conditions.
Wells Fargo Securities, J.P. Morgan and SunTrust Robinson
Humphrey are acting as joint book-running managers with PNC Capital
Markets LLC, Mitsubishi UFJ Securities, BB&T Capital Markets,
Capital One Southcoast, TD Securities, US Bancorp and The Williams
Capital Group, L.P. acting as co-managers.
The offering may be made only by means of a prospectus
supplement and accompanying prospectus. Copies of these documents
may be obtained by contacting Wells Fargo Securities, LLC, 1525
West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262,
Attn: Capital Markets Client Support, toll-free: 1-800-326-5897,
emailing: cmclientsupport@wellsfargo.com; J.P. Morgan Securities
LLC, 383 Madison Avenue, New York, New York 10179, Attention:
Investment Grade Syndicate Desk – 3rd floor, collect: (212)
834-4533 or SunTrust Robinson Humphrey, Inc., 1-800-685-4786.
Electronic copies of the prospectus supplement and accompanying
prospectus are also available from the Securities and Exchange
Commission’s website at www.sec.gov.
A registration statement relating to these securities became
effective upon filing with the Securities and Exchange Commission.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Post Properties
Post Properties, Inc., founded more than 40 years ago, is a
leading developer and operator of upscale multifamily communities.
The Company’s mission is delivering superior satisfaction and value
to its residents, associates, and investors, with a vision of being
the first choice in quality multifamily living. Operating as a real
estate investment trust (“REIT”), the Company focuses on developing
and managing Post® branded resort-style garden and high density
urban apartments. Post Properties is headquartered in Atlanta,
Georgia, and has operations in ten markets across the country.
Post Properties has interests in 22,218 apartment units in 60
communities, including 1,471 apartment units in four communities
held in unconsolidated entities and 2,046 apartment units in seven
communities currently under development or in lease-up. The Company
is also selling luxury for-sale condominium homes in two
communities through a taxable REIT subsidiary.
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