MAA issues $350 million in senior unsecured notes

Germantown, Tennessee. – Mid-America Apartments, Inc. (NYSE: MAA) has priced a substantial amount of debt through its operating partner Mid-America Apartments, LP (MAALP). The company announced the issuance of US$350 million of senior unsecured notes with an annual interest rate of 5.00%, which will mature on March 15, 2034. The note is priced at 99.01% of the principal amount, and the delivery time is expected to end on January 10, 2024, which meets normal delivery conditions.

MAALP plans to use the net proceeds from the offering to repay existing borrowings under its unsecured commercial paper program. Any remaining funds will be used for general corporate operations, which may include repaying debt and investing in the acquisition, development and redevelopment of apartment communities.

Wells Fargo Securities LLC, J.P. Morgan Securities LLC, Mizuho Securities U.S.A. LLC, Truist Securities LLC and U.S. Bank Investments LLC have been appointed joint book-running managers for the offering. Bass, Berry &; provided legal counsel to MAALP; Sims PLC and Sidley Austin LLP acted as legal counsel to the underwriters.

The offering is being made pursuant to a shelf registration statement in effect with the U.S. Securities and Exchange Commission (SEC). Interested parties may obtain the prospectus supplement and accompanying prospectus from the General Accounting Office.

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