American Campus pricing $300 million 10-year notes Tuesday

By Aleesia Forni

Virginia Beach, June 17 – American Campus Communities Operating Partnership LP is in the market Tuesday with a $300 million offering of 10-year senior notes (Baa3/BBB-/), according to a market source and a 424B5 filing with the Securities and Exchange Commission.

Bookrunners are BofA Merrill Lynch, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC.

Proceeds will be used to repay the outstanding balance of a revolving credit facility.

The notes are guaranteed by American Campus Communities Inc.

The real estate investment trust for student housing is based in Austin, Texas.

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