Houston-based Camden Property Trust (CPT) has raised $500 million in a sale of bonds. The $250 million notes sold in the first tranche carry a coupon rate of 4.625% and are due to mature in 2021, while the remaining $250 million notes carry a coupon rate of 4.875% and will mature in 2023. Bank of America Merrill Lynch, Deutsche Bank and JP Morgan Chase were leading the bond sale, supported by Credit Suisse, Morgan Stanley and Wells Fargo. The REIT intends to use the proceeds for paying down a outstanding $500 million term loan.
Click here for the release from Business Wire.