UDR plans sale of fixed-rate medium-term notes via five bookrunners

By Devika Patel

Knoxville, Tenn., Nov. 30 – UDR, Inc. intends to conduct an offering of fixed-rate series A medium-term notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes are fully and unconditionally guaranteed by United Dominion Realty, LP.

The notes may be redeemed at the greater of a make-whole call and a par call until three months prior to maturity and then may be called at par.

BofA Securities, Inc., J.P. Morgan Securities LLC, U.S. Bancorp Investments Inc., TD Securities (USA) LLC and Truist Securities Inc. are the bookrunners.

Proceeds will be used for eligible green projects, to fund the redemption of the remaining $183.1 million of UDR’s 3.75% senior notes due 2024 and to repay other debt, including the company’s remaining $67.5 million of secured debt maturing in 2023 and any outstanding debt under its commercial paper program and working capital credit facility or to fund potential acquisitions.

The real estate investment trust for apartment communities is based in Denver.

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