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AvalonBay plans to sell medium-term notes via Deutsche Bank, JPMorgan
By Devika Patel
Knoxville, Tenn., May 3 – AvalonBay Communities, Inc. plans to price medium-term notes via agents Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be drawn from a $750 million MTN program.
The notes will have a make-whole call.
Proceeds will be used to reduce debt under AvalonBay’s $1.5 billion unsecured revolving credit facility and for general corporate purposes.
The manager and developer of apartment communities is based in Arlington, Va.
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