0001193125-24-002484.txt : 20240104 0001193125-24-002484.hdr.sgml : 20240104 20240104164336 ACCESSION NUMBER: 0001193125-24-002484 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240104 DATE AS OF CHANGE: 20240104 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Mid-America Apartments, L.P. CENTRAL INDEX KEY: 0001581776 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 621543816 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-258271-01 FILM NUMBER: 24512733 BUSINESS ADDRESS: STREET 1: 6815 POPLAR AVENUE STREET 2: SUITE 500 CITY: GERMANTOWN STATE: TN ZIP: 38138 BUSINESS PHONE: (901) 248-4126 MAIL ADDRESS: STREET 1: 6815 POPLAR AVENUE STREET 2: SUITE 500 CITY: GERMANTOWN STATE: TN ZIP: 38138 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Mid-America Apartments, L.P. CENTRAL INDEX KEY: 0001581776 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 621543816 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 6815 POPLAR AVENUE STREET 2: SUITE 500 CITY: GERMANTOWN STATE: TN ZIP: 38138 BUSINESS PHONE: (901) 248-4126 MAIL ADDRESS: STREET 1: 6815 POPLAR AVENUE STREET 2: SUITE 500 CITY: GERMANTOWN STATE: TN ZIP: 38138 FWP 1 d697133dfwp.htm FWP FWP

Filed Pursuant to Rule 433

Registration Statement No. 333-258271-01

Relating to Preliminary Prospectus Supplement dated January 4, 2024

to Prospectus dated July 29, 2021

January 4, 2024

Mid-America Apartments, L.P.

$350,000,000 5.000% Senior Notes due 2034

Pricing Term Sheet

This pricing term sheet relates only to the securities described below and should be read together with Mid-America Apartments, L.P.’s preliminary prospectus supplement dated January 4, 2024 (the “preliminary prospectus supplement”) and the accompanying prospectus dated July 29, 2021 and the documents incorporated and deemed to be incorporated by reference therein.

 

Issuer:    Mid-America Apartments, L.P.
Security Title:    5.000% Senior Notes due 2034
Principal Amount:    $350,000,000
Trade Date:    January 4, 2024
Settlement Date:    January 10, 2024 (T+4)
Maturity Date:    March 15, 2034
Interest Payment Dates:    Payable semi-annually on March 15 and September 15, commencing September 15, 2024
Coupon Rate:    5.000% per year, accruing from January 10, 2024
Price to Public:    99.019% of the principal amount, plus accrued interest, if any, from January 10, 2024
Benchmark Treasury:    4.500% due November 15, 2033
Benchmark Treasury Price / Yield:    104-00+ / 4.003%
Spread to Benchmark Treasury:    +112 basis points
Yield to Maturity:    5.123%
Optional Redemption:    Prior to December 15, 2033, make-whole redemption at the Treasury Rate (as defined) plus 20 basis points (except as otherwise provided in the preliminary prospectus supplement) plus accrued and unpaid interest. On and after December 15, 2033, at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest. See the preliminary prospectus supplement for the definition of “Treasury Rate” and for further terms and provisions applicable to optional redemption.
CUSIP / ISIN:    59523U AV9 / US59523UAV98
Joint Book-Running Managers:   

Wells Fargo Securities, LLC

J.P. Morgan Securities LLC

Mizuho Securities USA LLC

Truist Securities, Inc.

U.S. Bancorp Investments, Inc.

Senior Co-Managers:   

Fifth Third Securities, Inc.

KeyBanc Capital Markets Inc.

Regions Securities LLC

Scotia Capital (USA) Inc.

SMBC Nikko Securities America, Inc.

Co-Managers:   

Citigroup Global Markets Inc.

PNC Capital Markets LLC

TD Securities (USA) LLC

Stifel, Nicolaus & Company, Inc.

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Wells Fargo Securities, LLC toll-free at 1-800-645-3751, J.P. Morgan Securities LLC collect at 1-212-834-4533, Mizuho Securities USA LLC at (866) 271-7403, Truist Securities, Inc. at 1-800-685-4786 or U.S. Bancorp Investments, Inc. toll-free at 1-877-558-2607.

Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.