04:42 PM EST, 12/02/2024 (MT Newswires) -- American Homes 4 Rent ( AMH ) said Monday it priced a $500 million offering of 5.25% senior notes due 2035.

The effective interest rate on the notes is 5.08% and is payable semi-annually in arrears on March 15 and Sept. 15 each year, starting March 15, 2025, according to the company.

The company expects to close the offering on or about Dec. 9.

Net proceeds from the offering will be used to repay outstanding indebtedness, including any outstanding amounts on the revolving credit facility and asset-backed securitization notes, as well as general corporate purposes, American Homes added.