AvalonBay Communities, Inc. announced a series of financing transactions in April 2025, significantly bolstering its financial position. The company expanded its revolving unsecured credit facility from $2.25 billion to $2.50 billion, extending its maturity to April 2030.
The unsecured commercial paper program capacity was also increased from $500 million to $1.00 billion, providing additional short-term liquidity. Furthermore, AvalonBay entered into a new $450 million variable rate term loan, maturing in April 2029, which has been hedged to an effective interest rate of 4.47%.
These actions collectively resulted in total liquidity of $2.8 billion as of April 30, 2025. This enhanced financial flexibility is critical for funding the company's planned development starts and capitalizing on future investment opportunities in its target markets.
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