Camden Property Trust (CPT) prices $750 million senior notes.

Camden Property Trust (CPT) announced today that it has priced an offering of $750 million 2.80% senior notes due May 15, 2030.  The notes were issued at 99.929% to yield 2.808%, or +220 basis points to the treasury curve. Camden expects to use proceeds from the offering to reduce revolving credit balances ($44 million at 12/31/19) and fund the company's development pipeline ($606 million unfunded cost).

Founded in 1982, Camden Property Trust (CPT) is one of the largest owner/developers of Class-A apartment properties in the U.S. with a current portfolio of 172 properties and 58,315 apartment units.