Camden property trust closes $500 million 5.850% senior unsecured note offering

Houston--(business wire)--camden property trust (nyse:cpt) today announced it has closed the offering of $500 million senior unsecured notes due 2026. these three-year notes were issued at 99.997% of par value with a coupon of 5.850%. after giving effect to deducting the underwriting discounts and other expenses of the offering, the effective interest rate on the notes is 6.08% per annum. in connection with the offering of the notes, camden initiated a forward interest rate swap agreement with.
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