AGOURA HILLS, Calif.,
Feb. 26, 2015 /PRNewswire/ --
American Homes 4 Rent (NYSE: AMH) (the "Company") announced today
that it has priced its fourth securitization transaction. The
transaction involves the issuance and sale to third parties of
single-family rental pass-through certificates that represent
beneficial ownership interests in a loan secured by 4,661
single-family residential properties transferred to an affiliate
from the Company's portfolio of single-family properties. The
Company anticipates gross proceeds from the sale of its
certificates of approximately $552.8
million. The certificates will be issued for a thirty-year
term with an anticipated repayment date ten years after the closing
date. The duration-adjusted weighted average coupon rate for the
certificates for the first ten years is 4.138%.
The transaction is expected to close on or about March 6, 2015. With the closing of this
transaction, the Company will have completed four securitizations
since May 2014, raising approximately
$2.05 billion.
The certificates will not be registered under the Securities Act
of 1933, as amended (the "Securities Act"), and may not be offered
or sold in the United States
absent registration or an applicable exemption from registration
requirements. The certificates will be offered and sold
in the United States in accordance
with Rule 144A under the Securities Act or to certain "non-U.S.
persons" outside of the United
States in accordance with Regulation S under the Securities
Act. This press release shall not constitute an offer to sell or
the solicitation of any offer to buy nor shall there by any sale of
the certificates in any jurisdiction in which such offer,
solicitation or sale would be unlawful under the laws of such
jurisdiction.
About American Homes 4 Rent
American Homes 4 Rent is a leader in the single-family home
rental industry and "American Homes 4 Rent" is fast becoming a
nationally recognized brand for rental homes, known for high
quality, good value and tenant satisfaction. We are an internally
managed Maryland real estate
investment trust, or REIT, focused on acquiring, renovating,
leasing and operating attractive, single-family homes as rental
properties. As of December 31, 2014,
we owned 34,599 single-family properties in selected submarkets in
22 states.
Forward-Looking Statements
This press release contains "forward-looking statements." These
forward-looking statements relate to beliefs, expectations or
intentions and similar statements concerning matters that are not
of historical fact and are generally accompanied by words such as
"estimate," "project," "predict," "believe," "expect,"
"anticipate," "intend," "potential," "plan," "goal" or other words
that convey the uncertainty of future events or outcomes. These
forward-looking statements may include, but are not limited to, the
Company's ability to complete a securitization transaction, whether
such a transaction will result in a lower cost of capital for the
Company and the timing to complete any securitization transaction.
The Company has based these forward looking statements on its
current expectations and assumptions about future events. While the
Company's management considers these expectations to be reasonable,
they are inherently subject to risks, contingencies and
uncertainties, most of which are difficult to predict and many of
which are beyond the Company's control. Additional information
about these and other important factors that may cause our actual
results to differ materially from anticipated results expressed or
implied by these forward-looking statements is available in the
Company's most recent Annual Report on Form 10-K, subsequent
Quarterly Reports on Form 10-Q and other reports filed with the
Securities and Exchange Commission. Investors should not
place undue reliance on these forward-looking statements. The
Company undertakes no obligation to update any forward-looking
statement to conform to actual results or changes in expectations,
except as required by applicable law.
Contact
American Homes 4 Rent
Investor Relations
Phone: (855) 794-2447
Email: investors@ah4r.com
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SOURCE American Homes 4 Rent