Equity residential announces its operating partnership enters into a $2.5 billion multi-currency revolving credit facility

Equity residential announced its operating partnership has entered into a $2.5 billion multi-currency revolving credit facility, replacing its existing $2.0 billion credit agreement. the new facility matures on november 1, 2024, and can be extended or increased, subject to lender consent and customary conditions. the interest rate and facility fees are based on the operating partnership’s long-term unsecured credit ratings. in addition, the operating partnership increased the maximum size for its unsecured commercial paper note program from $500.0 million to $1.0 billion. the notes will be sold under customary terms in the united states commercial paper note market and will rank pari passu with all of the other unsecured senior indebtedness of the operating partnership. the notes to be offered under the commercial paper program have not been and will not be registered under the securities act of 1933, as amended, and may not be offered or sold in the united states absent registration or an applicable exemption from registration requirements. this press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes under the commercial paper program.
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