Post Apartment Homes' $50-Mil Notes Sale Pays Down Debt

ATLANTA-The locally based operating subsidiary of Post Properties Inc. closes on 6.71% senior, unsecured five-year notes, rated BBB+/Baa1 by Standard & Poors and Moody's.

By Alex Finkelstein | Updated on March 13, 2001

ATLANTA-Post Apartment Homes is in a strategically sound position today to start paying off balances on its revolving line of credit after closing March 12 on the $50-million sale of 6.71% senior, unsecured five-year notes. Merrill Lynch & Co. and Legg Mason Wood Walker Inc. were the underwriters.

Proceeds from the securities offering also will be used for general corporate purposes, according to the company’s prepared statement. The notes are separately rated BBB+/Baa1 by Standard & Poors and Moody’s Investors Service. They mature March 13, 2006.

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