UDR begins cash tender offer for any and all 3.75% notes due 2024

Chicago, July 14 – UDR, Inc. began a cash tender offer for any and all of its $300 million outstanding 3.75% medium-term notes (Cusip:90265EAJ9) due 2024, according to a press release on Tuesday.

The notes are guaranteed by United Dominion Realty, LP.

Pricing for the offer will be determined using the 0.25% U.S. Treasury due June 30, 2025 plus a fixed spread of 65 basis points.

Pricing will be determined at 2 p.m. ET on July 20.

The expiration time and withdrawal deadline for the offer is 5 p.m. ET on July 20.

Settlement is expected for July 21.

The guaranteed delivery date is 5 p.m. ET on July 22 with settlement for those notes on July 23.

The offer is conditioned upon the receipt of proceeds from an offering of new medium-term notes on terms satisfactory to the company.

D.F. King & Co., Inc. (800 669-5550, 212-269-5550, udr@dfking.com, http://www.dfking.com/UDR) is working as the tender agent and information agent.

J.P. Morgan Securities LLC (866 834-4666, 212 834-2042) is the dealer manager with Citigroup Global Markets Inc. and Wells Fargo Securities LLC working as co-dealer managers.

UDR is a Denver-based real estate investment trust that owns and manages multi-family apartment buildings.

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