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American Campus intends to price offering of guaranteed senior notes
By Devika Patel
Knoxville, Tenn., Oct. 2 – American Campus Communities Operating Partnership LP is expected to sell guaranteed senior notes, according to a 424B5 filing with the Securities and Exchange Commission.
The notes have a make-whole call and are then redeemable at par.
The bookrunners are Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC.
The notes are guaranteed by American Campus Communities Inc.
Proceeds will be used to repay the outstanding balance of the company’s revolving credit facility, to acquire seven student housing properties for $590.6 million, for other projects and other potential acquisitions of student housing properties and for general business purposes.
The real estate investment trust for student housing is based in Austin, Texas.
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