CALABASAS, Calif., June 30, 2021 /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 $450 million aggregate principal amount of 2.375%
Senior Notes due 2031 (the "2031 Notes") and $300 million aggregate principal amount
of 3.375% Senior Notes due 2051 (the "2051 Notes" and together
with the 2031 Notes, the "Notes"). The 2031 Notes will be issued
at 98.513% of par value with a coupon of 2.375% per
annum. The 2051 Notes will be issued at 97.962% of par value
with a coupon of 3.375% per annum. Interest on the Notes is
payable semi-annually in arrears on January 15 and July
15 of each year, commencing January
15, 2022. The 2031 Notes will mature on July 15, 2031 and the 2051 Notes will mature on
July 15, 2051. The offering is
subject to the satisfaction of customary closing conditions and is
expected to close on or about July 8,
2021.
The Operating Partnership intends to use the net proceeds from
the offering to repay amounts outstanding on its revolving credit
facility and any remaining net proceeds for general corporate
purposes, including, without limitation, property acquisitions and
developments, the expansion, redevelopment and/or improvement of
existing properties in its portfolio, other capital expenditures,
the redemption of its preferred shares, the repayment of
outstanding indebtedness, working capital and other general
purposes.
BofA Securities, J.P. Morgan and Wells Fargo Securities are
acting as joint book-running managers for the offering, and BMO
Capital Markets, Citigroup, Morgan Stanley, PNC Capital Markets
LLC, Raymond James and US Bancorp
are acting as book-running managers for the offering. Mizuho
Securities, Scotiabank, Regions Securities LLC, Ramirez & Co.,
Inc. and RBC Capital Markets 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., 200
North College Street, NC1-004-03-43, 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: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or by
telephone at 1-866-803-9204; and Wells Fargo Securities, LLC, 608
2nd Avenue South, Suite 1000, Minneapolis, MN 55402,
Attn: WFS Customer Service, by telephone at 1-800-645-3751 or by
email at wfscustomerservice@wellsfargo.com.
About American Homes 4 Rent
American Homes 4 Rent (NYSE: AMH) is a leader in the
single-family home rental industry and "American Homes 4 Rent" is a
nationally recognized brand for rental homes, known for
high-quality, good value and tenant satisfaction. We are an
internally managed Maryland real
estate investment trust, or REIT, focused on acquiring, developing,
renovating, leasing, and operating attractive, single-family homes
as rental properties. As of March 31,
2021, we owned 53,984 single-family properties in selected
submarkets in 22 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. These
forward-looking statements may include, but are not limited to, 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 to be reasonable, they are
inherently subject to 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. These and other important factors, including "Risk
Factors" disclosed in, or incorporated by reference into, the
prospectus from the Company's and the Operating Partnership's
Annual Report on Form 10-K for the year ended December 31, 2020 and Quarterly Report on Form
10-Q for the three months ended March 31,
2021, and in the Company's and the Operating Partnership's
subsequent filings with the SEC, may cause the Operating
Partnership's actual results to differ materially from anticipated
results expressed or implied by these forward-looking statements.
Investors should not place undue reliance on these forward-looking
statements.
Contact:
American Homes 4 Rent
Investor Relations
Phone: (855) 794-2447
Email: investors@ah4r.com
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SOURCE American Homes 4 Rent