American Homes 4 Rent (AMH) prices $750 million senior notes offering.
American Homes 4 Rent (AMH) announced today that its operating partnership has priced an aggregate offering of $750 million senior unsecured notes.  The company said that proceeds from the offering would be used to repay bank borrowings and fund additional investments.  The offering included:
      • $450 million 2.375% senior notes due 2031.  The notes were priced to yield 2.544% or +110 basis points to the benchmark treasury.
      • $300 million 3.375% senior notes due 2051.  The notes were priced to yield 3.485% or +140 basis points to the benchmark treasury.
American Homes is one of the largest owner/managers of single-family rental properties in the United States. As of March 31, 2021, the company's managed portfolio totaled 55,367 homes in 22 states, including 1,383 homes held in unconsolidated joint ventures. AMH has a total market capitalization of approximately $16 billion and is a member of the Russell 1000 index.

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06/30/2021