Camden Property Trust (CPT) prices $600 million bond offering.
Camden Property (CPT) announced today that it has priced a $600 million offering of 3.15% 10-year bonds. The bonds were priced at 99.751% to yield 3.179%, or +107 to the benchmark treasury. Timing for the offering comes after a rally in treasury prices, allowing CPT to achieve the lowest coupon of any REIT offering this year.
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 167 properties and 56,000+ apartment units. Camden has a total market capitalization of approximately $12 billion and is a member of the S&P MidCap 400® Index.