Invitation Homes Inc. Announces Pricing of $600 Million of 2.300% Senior Notes due 2028 and $400 Million of 2.700% Senior Notes due 2034

DALLAS – (BUSINESS WIRE) – Invitation Homes Inc. (NYSE: INVH) (“Invitation Homes” or the “Company”) announced today that its operating partnership, Invitation Homes Operating Partnership LP (the “Operating Partnership”) is making a public offering of $ 600 million in total face value of 2.300% Senior Notes due 2028 (the “2028 Notes”) and US $ 400 million aggregate face value of 2.700% Senior Notes due 2034 (the “2034 Notes” and together with the 2028 Notes the “Notes”). The 2028 bonds have been valued at 99.871% of face value and mature on November 15, 2028. The 2034 bonds have been valued at 99.809% of face value and mature on January 15, 2034. The offer is expected to end on November 15, 2021, subject to customary closing conditions being met. The Notes are fully and unconditionally jointly and severally guaranteed by the Company, Invitation Homes OP GP LLC and IH Merger Sub, LLC.

The Operating Partnership intends to use a portion of the net proceeds from the offer to repay all $ 184.4 million of the securitization-related mortgage loan named IH 2017-2 and the remainder of the net proceeds to repay a portion of the securitization-related mortgage loan, named IH 2018-3 and for general corporate purposes which may include, but are not limited to, working capital, debt repayment, single family home acquisitions and renovations and related activities in accordance with our business strategy.

Wells Fargo Securities, Deutsche Bank Securities, Goldman Sachs & Co. LLC, BofA Securities, Credit Suisse, JP Morgan, Mizuho Securities and PNC Capital Markets LLC are acting as joint accounting managers of the Offering. Citigroup, KeyBanc Capital Markets, Morgan Stanley, RBC Capital Markets, BMO Capital Markets, BNP PARIBAS, BNY Mellon Capital Markets, LLC, Capital One Securities, Raymond James, Regions Securities LLC, Scotiabank, US Bancorp, Academy Securities, Comerica Securities and Ramirez & Co., Inc. are acting as co-managers of the offering.

The offering is made pursuant to an effective Shelf Registration Statement filed with the Securities and Exchange Commission (the “SEC”) by the Company, the Operating Partnership, Invitation Homes OP GP LLC and IH Merger Sub, LLC. A prospectus supplement and an accompanying prospectus relating to the offering will be filed with the SEC. A copy of the Supplement and Prospectus accompanying the Offering, if available, may be obtained from: Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer Service, or by email at wfscustomerservice@wellsfargo.com or by calling 1-800-645-3751; Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, or by email at prospekt.CPDG@db.com or by calling (800) 503-4611; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or email prospekt-ny@ny.email.gs.com or call (866) 471-2526; 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 jurisdiction in which such offer, solicitation or sale is prior to Registration or authorization would be unlawful under the securities laws of any such state or jurisdiction.

About invitation houses

Invitation Homes is the country’s leading single family home leasing company, meeting the changing demands of lifestyle by providing access to high quality, modernized homes with valued features such as proximity to workplaces and access to good schools. The company’s mission, “Working with you to turn a house into a home,” reflects its commitment to providing a home where individuals and families can thrive and first class service that continually improves the living experience for residents.

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, among other things, includes statements relating to the Company’s expectations for business developments of the Company, its financial results, liquidity and capital position and the use of the net proceeds from the Offering, as well as other non-historical statements. In some cases, you can refer to these forward-looking statements by using words such as “outlook”, “believes”, “expects”, “potentially”, “further”, “could”, “will”, “should”, “could” , “Seeks”, “projected”, “predicted”, “intends”, “planet”, “estimates”, “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including but not limited to risks related to the single family rental industry and the company’s business model, macroeconomic factors beyond the control of the company, competition in identifying and acquiring real estate, and competition in the leasing market for high quality residents, rising property taxes, home ownership and insurance costs, the company’s reliance on third parties for essential services, risks related to property valuation, poor resident selection and failures and non-renewals by the company’s residents, performance of the company’s information technology systems, risks related to the company’s indebtedness and risks related to the potential negative effects of the ongoing COVID-19 pandemic on its financial position, operating profit, Cas hflows, the business, affiliates, and the company’s residents. Accordingly, there are or there will be important factors that could cause actual results or results to differ materially from those expressed in these statements. In addition, many of these factors have been compounded by the persistent and numerous negative effects of COVID-19. The Company believes that these factors include, but are not limited to, those described in Part I. Item 1A. “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as these factors may be updated from time to time in the Company’s periodic filings with the SEC, which can be found 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 contained in this press release 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 revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except: unless otherwise required by law.

[ad_1]