AP NEWS

Camden Property Trust Prices $400 Million 4.100% Senior Unsecured Notes Due 2028

October 2, 2018

HOUSTON--(BUSINESS WIRE)--Oct 2, 2018--Camden Property Trust (NYSE:CPT) today announced it has priced a $400 million offering of senior unsecured notes under its existing shelf registration. These ten-year notes were issued at 99.893% of par value with a coupon of 4.100%. Interest on the notes is payable semi-annually on April 15 and October 15, with the first payment becoming due and payable on April 15, 2019, and the notes will mature on October 15, 2028. Camden expects to use the net proceeds of approximately $396.1 million to repay the outstanding balance on its unsecured line of credit and other short-term borrowings (including the amount drawn thereunder to repay approximately $380 million of outstanding secured debt) and the remainder for general corporate purposes. Settlement is scheduled for October 4, 2018, subject to customary closing conditions.

BofA Merrill Lynch, Deutsche Bank Securities, Jefferies, J.P. Morgan and Wells Fargo Securities are Joint Book-Running Managers and Credit Suisse, SunTrust Robinson Humphrey, US Bancorp, BB&T Capital Markets, MUFG, Regions Securities LLC and Scotiabank are Co-Managers in the transaction.

Camden has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in this registration statement and other documents Camden has filed with the SEC for more complete information about Camden and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Camden, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated, Attn: Prospectus Department, 200 North College Street NC1-004-03-43, Charlotte, NC 28255-0001, Telephone: 1-800-294-1322, E-mail: dg.prospectus_requests@baml.com; Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, Telephone: 1-800-503-4611, E-mail: prospectus.CPDG@db.com; Jefferies LLC, Attn: High Grade Syndicate Desk, 520 Madison Avenue, 3 rd Floor, New York, NY 10022, Telephone: 1-877-877-0696; J.P. Morgan Securities LLC, Attn: Investment Grade Syndicate Desk, 383 Madison Avenue, New York, NY 10179, Telephone: 1-212-834-4533; and Wells Fargo Securities, LLC, Attn: WFS Customer Service, 608 2 nd Avenue South, Suite 1000, Minneapolis, MN 55402, Telephone: 1-800-645-3751, E-mail: wfscustomerservice@wellsfargo.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or other jurisdiction.

In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates, and projections about the industry and markets in which Camden operates, management’s beliefs, and assumptions made by management. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties which are difficult to predict. Factors which may cause Camden’s actual results or performance to differ materially from those contemplated by forward-looking statements are described under the heading “Risk Factors” in Camden’s Annual Report on Form 10-K and in other filings with the SEC. Forward-looking statements made in today’s press release represent management’s current opinions at the time of this publication, and Camden assumes no obligation to update or supplement these statements because of subsequent events.

Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 159 properties containing 54,480 apartment homes across the United States. Upon completion of 8 properties currently under development, the Company’s portfolio will increase to 56,858 apartment homes in 167 properties. Camden was recently named by FORTUNE Magazine for the eleventh consecutive year as one of the “100 Best Companies to Work For” in America, ranking #24.

For additional information, please contact Camden’s Investor Relations Department at (713) 354-2787.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181002006098/en/

CONTACT: Camden Property Trust

Kim Callahan, 713-354-2549

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY

SOURCE: Camden Property Trust

Copyright Business Wire 2018.

PUB: 10/02/2018 05:27 PM/DISC: 10/02/2018 05:27 PM

http://www.businesswire.com/news/home/20181002006098/en

AP RADIO
Update hourly