UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): September 22, 2011
CAMDEN PROPERTY TRUST
(Exact name of Registrant as Specified in Charter)
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| Texas
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1-12110
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76-6088377 |
(State or Other Jurisdiction of
Incorporation)
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(Commission File Number)
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(I.R.S. Employer
Identification Number) |
Three Greenway Plaza, Suite 1300, Houston, Texas 77046
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (713) 354-2500
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On September 22, 2011, Camden Property Trust, a Texas real estate investment trust (the
“Company”), entered into an Amended and Restated Credit Agreement (the “Credit Agreement”) with
Bank of America, N.A., as Administrative Agent, Swing Line Lender and Letter of Credit Issuer,
JPMorgan Chase Bank, N.A., as Syndication Agent, and each lender from time to time party thereto,
for a $500 million unsecured credit facility, which may be expanded by up to an additional $250
million upon the satisfaction of certain conditions. The Credit Agreement amends and restates the
Company’s existing credit facility to, among other things, extend the maturity date of the new
credit facility to an initial term of September 22, 2015, which may be extended at the Company’s
option for an additional one-year period.
The Credit Agreement provides for an interest rate based upon, at the Company’s option, (a)
one-, two-, three- or six-month LIBOR, plus, in each case, a spread based on the Company’s credit
rating, which spreads are more favorable than those contained in the existing credit facility, and
(b) a base rate equal to the higher of (i) the Federal Funds Rate plus 0.50%, (ii) the lender’s
prime rate and (iii) one-month LIBOR plus 1.0%.
Certain of the Company’s subsidiaries have guaranteed the payment and performance of all of
the Company’s obligations under the Credit Agreement. The Company intends to use the proceeds from
this credit facility for general corporate purposes, which may include the repayment of
indebtedness, the redemption or other repurchase of outstanding debt or equity securities, funding
for development activities and financing for acquisitions. The description herein of the Credit
Agreement is qualified in its entirety, and the terms therein are incorporated herein, by reference
to the Credit Agreement, a copy of which is filed as Exhibit 99.1 hereto.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of Registrant.
The information set forth in Item 1.01 is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits.
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| Exhibit |
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99.1
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Amended and Restated Credit Agreement dated as of September 22, 2011 among Camden Property
Trust, each lender from time to time party thereto, Bank of America, N.A., as Administrative
Agent, Swing Line Lender and Letter of Credit Issuer, and JPMorgan Chase Bank, N.A., as
Syndication Agent |
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