LAS
VEGAS, June 18, 2024 /PRNewswire/ -- American
Homes 4 Rent (NYSE: AMH) (the "Company") today announced that its
operating partnership, American Homes 4 Rent, L.P. (the "Operating
Partnership"), has priced an offering of $500 million
aggregate principal amount of 5.500% Senior Notes due 2034 (the
"Notes"). The Notes will be issued at 99.455% of par value with a
coupon of 5.500% per annum. Interest on the Notes is payable
semi-annually in arrears on January
15 and July 15 of each year,
commencing January 15, 2025. The
Notes will mature on July 15,
2034. The offering is subject to the satisfaction of customary
closing conditions and is expected to close on or about
June 26, 2024.
The Operating Partnership intends to use the net proceeds from
the offering for the repayment of outstanding indebtedness, which
may include the repayment or voluntary prepayment of all or a
portion of the outstanding 2014-SFR3
asset-backed securitization notes, as well as general corporate
purposes, including, without limitation, property acquisitions and
developments, the expansion, redevelopment and/or improvement of
existing properties in the Company's portfolio, other capital
expenditures, working capital and other general purposes.
BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan
Stanley & Co. LLC and Wells Fargo Securities, LLC are acting as
joint book-running managers and representatives of the underwriters
for the offering, and PNC Capital Markets LLC, Raymond James & Associates, Inc., Citigroup
Global Markets Inc., Mizuho Securities USA LLC and Scotia Capital (USA) Inc. are acting as book-running managers
for the offering. Regions Securities LLC, U.S. Bancorp Investments,
Inc., RBC Capital Markets, LLC and Samuel
A. Ramirez & Company, Inc. are acting as co-managers for
the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any offer or
sale of these securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful before
registration or qualification thereof under the securities laws of
any such state or jurisdiction.
The offering is being made pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission (the "SEC") and only by means of a prospectus and
prospectus supplement. Copies of the preliminary prospectus
supplement relating to the offering and the final prospectus
supplement, when available, may be obtained by visiting EDGAR on
the SEC's website at www.sec.gov or from BofA Securities, Inc., 201
North Tryon Street, NC1-022-02-25, Charlotte, NC 28255-0001, Attn: Prospectus
Department, by telephone at 1-800-294-1322 or by email at
dg.prospectus_requests@bofa.com; J.P. Morgan Securities LLC, Attn:
Investment Grade Syndicate Desk, 383 Madison Avenue, New York, NY 10179, or by telephone at
1-212-834-4533 (collect); Morgan Stanley & Co. LLC at 1585
Broadway, 29th Floor, New York, New
York 10036, attention of Investment Banking Division,
facsimile: (212) 507-8999 and Wells Fargo Securities, LLC, Attn:
WFS Customer Service, 608 2nd Avenue South, Suite
1000, Minneapolis, MN 55402, at 800-645-3751 or email:
wfscustomerservice@wellsfargo.com.
About AMH
American Homes 4 Rent (NYSE: AMH) is a leading large-scale
integrated owner, operator and developer of single-family rental
homes. We're an internally managed Maryland real estate investment trust (REIT)
focused on acquiring, developing, renovating, leasing and managing
homes as rental properties. Our goal is to simplify the experience
of leasing a home and deliver peace of mind to households across
the country. As of March 31, 2024, we
owned nearly 60,000 single-family properties in the Southeast,
Midwest, Southwest and Mountain West regions of the United States.
Forward-Looking Statements
This press release contains "forward-looking statements" that
relate to beliefs, expectations or intentions and similar
statements concerning matters that are not of historical fact and
are generally accompanied by words such as "estimate," "project,"
"predict," "believe," "expect," "anticipate," "intend,"
"potential," "plan," "goal," "outlook," "guidance" or other words
that convey the uncertainty of future events or outcomes. Examples
of forward-looking statements contained in this press release
include, among others, the Operating Partnership's ability to
complete the offering and the intended use of net proceeds. The
Operating Partnership has based these forward-looking statements on
its current expectations and assumptions about future events. While
the Operating Partnership's management considers these expectations
and assumptions to be reasonable, they are inherently subject to
significant business, economic, competitive, regulatory and other
risks, contingencies and uncertainties, most of which are difficult
to predict and many of which are beyond the Operating Partnership's
control and could cause actual results to differ materially from
any future results, performance or achievements expressed or
implied by these forward-looking statements. Investors should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company or the
Operating Partnership undertakes no obligation to update any
forward-looking statements to conform to actual results or changes
in their expectations, unless required by applicable law. For a
further description of the risks and uncertainties that could cause
actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to the
business of the Company in general, see the Company's and the
Operating Partnership's Annual Report on Form 10-K for the year
ended December 31, 2023, and in the
Company's and the Operating Partnership's subsequent filings with
the SEC.
AMH Contact:
Nicholas Fromm
Investor Relations
Phone: (855) 794-2447
Email: investors@amh.com
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