DALLAS – (BUSINESS WIRE) – Invitation Homes Inc. (NYSE: INVH) (“Invitation Homes” or the “Company”) announced today that its Invitation Homes Operating Partnership LP (the “Operating Partnership”) has made a public offer of $ 650 has a total principal amount of 2,000% Senior Notes maturing in 2031 million (the “Notes”). The bonds were valued at 98.396% of nominal value and will mature on August 15, 2031. The offer is expected to end on August 6, 2021, provided the customary closing conditions are 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 the net proceeds from the Offer to repay Secured Liabilities, including all Class D Certificates of Securitization-Related Mortgage Loans designated IH 2018-1, IH 2018-2, IH 2018-3 and IH 2018-4 and thereafter any remaining net proceeds will be used to repay a portion of the securitization-related mortgage loan called IH 2017-2.
JP Morgan, BofA Securities, Wells Fargo Securities, Deutsche Bank Securities and Morgan Stanley are acting as joint book-running managers for the offering. BMO Capital Markets, BNP Paribas, Capital One Securities, Citigroup, Credit Suisse, Goldman Sachs & Co. LLC, KeyBanc Capital Markets, Mizuho Securities, PNC Capital Markets LLC, Raymond James, RBC Capital Markets and Scotiabank act as co-managers of the offer .
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. If available, a copy of the Supplement and Prospectus relating to the Offer can be obtained from JP Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, or by calling (212 ) 834-4533; BofA Securities, Inc., 200 North College Street, 3rd Floor, NC1-004-03-43, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at dg.prospectus_requests@bofa.com or by phone at 1- 800-294-1322; 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, or visit 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 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 nation’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 make a home a home,” reflects its commitment to creating a home where individuals and families can thrive and providing 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, these forward-looking statements can be identified by the use of 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 the identification and acquisition of real estate, competition in the rental 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 selection of residents and defaults and non-renewals by the company’s residents, performance of the company’s information technology systems, risks in the Relation to the company’s indebtedness and risks related to the potential negative impact of the ongoing COVID-19 pandemic on its financial position, operating results bnis, the cash flows, the business, the employees and the people of the company. 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.
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