AUSTIN, Texas--(BUSINESS WIRE)--

Please replace the release with the following corrected version due to multiple revisions. 

The corrected release reads:

AMERICAN CAMPUS COMMUNITIES, INC. ANNOUNCES PRICING OF $400 MILLION 3.875 PERCENT SENIOR UNSECURED NOTES DUE 2031

American Campus Communities, Inc. (NYSE:ACC), the largest owner, manager and developer of high-quality student housing properties in the U.S., today announced that its operating partnership, American Campus Communities Operating Partnership LP, priced a $400 million offering of senior unsecured notes under its existing shelf registration. These 10-year notes were issued at 99.142 percent of par value with a coupon of 3.875 percent and are fully and unconditionally guaranteed by American Campus Communities, Inc. Interest on the notes is payable semi-annually on January 30 and July 30, with the first payment due and payable on January 30, 2021. The notes will mature on January 30, 2031. American Campus Communities Operating Partnership LP expects to use the net proceeds (after expenses) of approximately $391.6 million to repay borrowings under its revolving credit facility, to fund projects in its current development pipeline and for general business purposes. Settlement is scheduled for June 11, 2020, subject to the satisfaction of customary closing conditions.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, BofA Securities, Inc., Capital One Securities, Inc., KeyBanc Capital Markets Inc. and Wells Fargo Securities, LLC are the Joint Book-Running Managers for the offering and BBVA Securities Inc., Piper Sandler & Co., PNC Capital Markets LLC, Regions Securities LLC and U.S. Bancorp Investments, Inc. are the Co-Managers.

American Campus Communities, Inc. and American Campus Communities Operating Partnership LP have filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) for the offering to which this press release relates. Before you invest, you should read the prospectus in that registration statement and other documents that American Campus Communities, Inc. and American Campus Communities Operating Partnership LP have filed with the SEC, including the prospectus supplement, for more complete information about American Campus Communities, Inc., American Campus Communities Operating Partnership LP and this offering. You may get these documents for free by visiting the SEC Web site at . Alternatively, American Campus Communities, Inc., American Campus Communities Operating Partnership LP or any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the accompanying prospectus supplement if you request it by contacting Deutsche Bank Securities Inc., toll free at 800-503-4611; or J.P. Morgan Securities LLC, collect at 212-834-4533.

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.

About American Campus Communities

American Campus Communities, Inc. is the largest owner, manager and developer of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management and operational management of student housing properties. As of March 31, 2020, American Campus Communities owned 166 student housing properties containing approximately 111,900 beds. Including its owned and third-party managed properties, ACC's total managed portfolio consisted of 201 properties with approximately 137,900 beds.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements under the applicable federal securities law. These statements are based on management’s current expectations and assumptions regarding markets in which American Campus Communities, Inc. (the “Company”) operates, operational strategies, anticipated events and trends, the economy, and other future conditions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. For discussions of some risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2019, Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 and other periodic reports, including those under the heading “Risk Factors” and under the heading “Business - Forward-looking Statements.” We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.

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