New Issue-Camden Property Trust sells $500 mln in two parts

Tue May 31, 2011 4:19pm EDT

  May 31 (Reuters) - Camden Property Trust (CPT.N) on
Tuesday sold $500 million of notes in two parts, said IFR, a
Thomson Reuters service.
 Bank of America Merrill Lynch, Deutsche Bank and JP Morgan
were the joint active bookrunning managers for the sale.
BORROWER: CAMDEN PROPERTY TRUST
TRANCHE 1                                                
AMT $250 MLN      COUPON 4.625 PCT    MATURITY 6/15/2021 
TYPE NTS          ISS PRICE 99.404    FIRST PAY 12/15/2011
MOODY'S Baa1      YIELD 4.70 PCT      SETTLEMENT 6/3/2011
S&P TRIPLE-B      SPREAD 165 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    MAKE-WHOLE CALL 25 BPS
TRANCHE 2                                                
AMT $250 MLN      COUPON 4.875 PCT    MATURITY 6/15/2023 
TYPE NTS          ISS PRICE 98.878    FIRST PAY 12/15/2011
MOODY'S Baa1      YIELD 5.00 PCT      SETTLEMENT 6/3/2011
S&P TRIPLE-B      SPREAD 195 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    MAKE-WHOLE CALL 30 BPS


A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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