AVALONBAY COMMUNITIES INC (AVB): debt financing — AvalonBay ups revolver to $2.5B, adds $450M term loan, CP program to $1B

In addition, on April 3, 2025, the Company entered into a $450,000,000 Term Loan Agreement (the “Term Loan Credit Facility”) with Truist Bank, as administrative agent and a bank, TD Bank, N.A., as a bank and a syndication agent, Mizuho Bank, Ltd., as a bank and a syndication agent, Truist Securities, Inc., TD Bank, N.A., and Mizuho Bank, Ltd., as joint bookrunners and joint lead arrangers, and the other bank parties signatory thereto.

On April 3, 2025, AvalonBay Communities, Inc. (the “Company”) entered into a $2,500,000,000 Seventh Amended and Restated Revolving Loan Agreement (the “Revolving Credit Facility”) with Bank of America, N.A., as administrative agent, an issuing bank and a bank, JPMorgan Chase Bank, N.A., as an issuing bank, a bank and a syndication agent, Wells Fargo Bank, N.A., as an issuing bank, a bank and a syndication agent, the co-documentation agents named therein, JPMorgan Chase Bank, N.A., BofA Securities, Inc., and Wells Fargo Securities, LLC, as joint bookrunners and joint lead arrangers, and the other bank parties signatory thereto.

On April 3, 2025, the Company increased the amount of short-term, unsecured commercial paper notes that it may issue under its commercial paper program (the “Commercial Paper Program”) from $500.0 million to $1.0 billion.