Invitation Homes Announces Pricing of $600 Million of 4.950% Senior Notes due 2033
The Operating Partnership intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment of a portion of the Operating Partnership's outstanding indebtedness under its revolving credit facility.
BofA Securities, BMO Capital Markets, J.P. Morgan, Capital One Securities, Deutsche Bank Securities, M&T Securities, Mizuho, Morgan Stanley, PNC Capital Markets LLC, RBC Capital Markets and Wells Fargo Securities are acting as the joint book-running managers of the offering. KeyBanc Capital Markets, Regions Securities LLC, US Bancorp, BNP PARIBAS, BNY Capital Markets, Goldman Sachs & Co. LLC, Huntington Capital Markets, Truist Securities, Citigroup, R. Seelaus & Co., LLC, and Scotiabank are acting as the co-managers of the offering.
The offering is being made pursuant to an effective shelf registration statement filed by the Company, the Operating Partnership, Invitation Homes OP GP LLC, and IH Merger Sub, LLC with the Securities and Exchange Commission (the 'SEC'). A prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. When available, a copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from: BofA Securities, Inc., toll-free: 1-800-294-1322; BMO Capital Markets Corp., toll-free: 1-800-200-0266; and J.P. Morgan Securities LLC, toll-free: 212-834-4533; or by visiting the EDGAR database on the SEC's website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Invitation Homes
Invitation Homes, an S&P 500 company, is the nation's premier single-family home leasing and management company, meeting changing lifestyle demands by providing access to high-quality homes with valued features such as close proximity to jobs and access to good schools. Our purpose, Unlock the power of home™, reflects our commitment to providing living solutions and Genuine CARE™ to the growing share of people who count on the flexibility and savings of leasing a home.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which include, but are not limited to, statements related to the Company's expectations regarding the performance of the Company's business, its financial results, its liquidity and capital resources and the use of the net proceeds from the offering, and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as 'outlook,' 'guidance,' 'believes,' 'expects,' 'potential,' 'continues,' 'may,' 'will,' 'should,' 'could,' 'seeks,' 'projects,' 'predicts,' 'intends,' 'plans,' 'estimates,' 'anticipates' or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties that may impact our financial condition, results of operations, cash flows, business, associates, and residents, including, among others, risks inherent to the single-family rental industry and the Company's business model, macroeconomic factors beyond the Company's control, competition in identifying and acquiring properties, competition in the leasing market for quality residents, increasing property taxes, homeowners' association fees and insurance costs, poor resident selection and defaults and non-renewals by the Company's residents, the Company's dependence on third parties for key services, risks related to the evaluation of properties, performance of the Company's information technology systems, development and use of artificial intelligence, risks related to the Company's indebtedness, risks related to the potential negative impact of fluctuating global and United States economic conditions (including inflation), uncertainty in financial markets (including as a result of events affecting financial institutions), geopolitical tensions, natural disasters, climate change, and public health crises. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The Company believes these factors include, but are not limited to, those described under Part I. Item 1A. 'Risk Factors' of the Company's Annual Report on Form 10-K for the year ended December 31, 2024 (the 'Annual Report'), as such factors may be updated from time to time in the Company's periodic filings with the SEC, which are accessible on the SEC's website at https://www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release, in the Annual Report, and in the Company's other periodic filings. The forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except to the extent otherwise required by law.
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