Company Website:
http://www.camdenliving.com
HOUSTON -- (Business Wire)
Camden Property Trust (NYSE:CPT) today announced it has closed the
offering of $400 million senior unsecured notes due 2028. These ten-year
notes were issued at 99.893% of par value with a coupon of 4.100%. In
anticipation of the offering of the notes, Camden initiated forward
interest rate swap agreements with an aggregate notional amount of $400
million. After giving effect to the settlement of the swap agreements,
and deducting the underwriting discounts and other estimated expenses of
the offering, the effective interest rate on the notes is approximately
3.74% per annum.
In addition to historical information, this press release contains
forward-looking statements under the federal securities law. These
statements are based on current expectations, estimates, and projections
about the industry and markets in which Camden operates, management's
beliefs, and assumptions made by management. Forward-looking statements
are not guarantees of future performance and involve certain risks and
uncertainties which are difficult to predict. Factors which may cause
Camden’s actual results or performance to differ materially from those
contemplated by forward-looking statements are described under the
heading “Risk Factors” in Camden’s Annual Report on Form 10-K and in
other filings with the SEC. Forward-looking statements made in today’s
press release represent management’s current opinions at the time of
this publication, and Camden assumes no obligation to update or
supplement these statements because of subsequent events.
Camden Property Trust, an S&P 400 Company, is a real estate company
engaged in the ownership, management, development, redevelopment,
acquisition, and construction of multifamily apartment communities.
Camden owns interests in and operates 159 properties containing 54,480
apartment homes across the United States. Upon completion of 8
properties currently under development, the Company’s portfolio will
increase to 56,858 apartment homes in 167 properties. Camden was
recently named by FORTUNE Magazine for the eleventh consecutive year as
one of the “100 Best Companies to Work For” in America, ranking #24.
For additional information, please contact Camden’s Investor Relations
Department at (713) 354-2787 or access our website at camdenliving.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181004005450/en/
Contacts:
Camden Property Trust
Kim Callahan, 713-354-2549
Source: Camden Property Trust
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