Invitation Homes Announces Voluntary Prepayment of IH 2018-4 Securitization
11 Noviembre 2024 - 5:45AM
Business Wire
Earliest Debt Maturity Now in 2027; 90 Percent
of Wholly-Owned Homes Now Unencumbered
Invitation Homes Inc. (NYSE: INVH) (“Invitation Homes” or the
“Company”) announced today that it has voluntarily prepaid without
penalty the outstanding balance of its IH 2018-4 securitization, as
planned.
As of September 30, 2024, the IH 2018-4 securitization had an
outstanding principal balance of approximately $630.2 million,
inclusive of approximately $31.6 million of retained certificates
held by Invitation Homes to comply with risk retention rules. The
Company prepaid the IH 2018-4 securitization using unrestricted
cash from its August 2023 bond issuance for the purpose of debt
prepayment, consistent with the Company’s previously stated use of
proceeds.
With the prepayment of IH 2018-4, the Company now has no debt
maturing prior to 2027, and on a pro forma basis as of September
30, 2024, approximately 90 percent of the Company’s wholly-owned
properties are unencumbered.
About Invitation Homes Invitation Homes, an S&P 500
company, is the nation's premier single-family home leasing and
management company, meeting changing lifestyle demands by providing
access to high-quality, updated homes with valued features such as
close proximity to jobs and access to good schools. The Company's
mission, "Together with you, we make a house a home," reflects its
commitment to providing homes where individuals and families can
thrive and high-touch service that continuously enhances residents'
living experiences.
Forward-Looking Statements This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, which include, but are
not limited to, statements related to the Company’s expectations
regarding the performance of the Company’s business, its financial
results, its liquidity and capital resources, and other
non-historical statements. In some cases, you can identify these
forward looking statements by the use of words such as “outlook,”
“guidance,” “believes,” “expects,” “potential,” “continues,” “may,”
“will,” “should,” “could,” “seeks,” “projects,” “predicts,”
“intends,” “plans,” “estimates,” “anticipates,” or the negative
version of these words or other comparable words. Such
forward-looking statements are subject to various risks and
uncertainties, including, among others, risks inherent to the
single-family rental industry and the Company’s business model,
macroeconomic factors beyond the Company’s control, competition in
identifying and acquiring properties, competition in the leasing
market for quality residents, increasing property taxes,
homeowners’ association and insurance costs, poor resident
selection and defaults and non-renewals by the Company’s residents,
the Company’s dependence on third parties for key services, risks
related to the evaluation of properties, performance of the
Company’s information technology systems, development and use of
artificial intelligence, risks related to the Company’s
indebtedness, and risks related to the potential negative impact of
unfavorable global and United States economic conditions (including
inflation), uncertainty in financial markets (including as a result
of events affecting financial institutions), geopolitical tensions,
natural disasters, climate change, and public health crises, on the
Company’s financial condition, results of operations, cash flows,
business, associates, and residents. Accordingly, there are or will
be important factors that could cause actual outcomes or results to
differ materially from those indicated in these statements. The
Company believes these factors include, but are not limited to,
those described under Part I. Item 1A. “Risk Factors” of its Annual
Report on Form 10-K for the year ended December 31, 2023 (the
“Annual Report”), as such factors may be updated from time to time
in the Company’s periodic filings with the Securities and Exchange
Commission (the “SEC”), which are accessible on the SEC’s website
at www.sec.gov. These factors should not be construed as exhaustive
and should be read in conjunction with the other cautionary
statements that are included in this release, in the Annual Report,
and in the Company’s other periodic filings. The forward-looking
statements speak only as of the date of this press release, and the
Company expressly disclaims any obligation or undertaking to
publicly update or review any forward-looking statement, whether as
a result of new information, future developments or otherwise,
except to the extent otherwise required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20241111888456/en/
Investor Relations Contact: Scott McLaughlin 844.456.INVH
(4684) IR@InvitationHomes.com
Media Relations Contact: Kristi DesJarlais 844.456.INVH
(4684) Media@InvitationHomes.com
Invitation Homes (NYSE:INVH)
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