- Sun Communities ( NYSE: SUI ) said Monday its operating partnership priced a $400M public offering of 5.7% senior notes due 2033.
- The offering price is 99.729% of the principal amount for an effective yield to maturity of 5.736%.
- Net proceeds will be used to repay borrowings outstanding under its senior credit facility, fund possible future acquisitions of properties, and for working capital.
- The offering is expected to close on or about January 17.
- Read why SA author Justin Purohit believes Sun Communities ( SUI ) shares offer meaningful upside potential .
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Sun Communities prices $400M senior note offering