American Homes (AMH) has issued an update.
American Homes 4 Rent, through its operating partnership, secured a new $1.25 billion unsecured revolving credit facility with Wells Fargo and other financial institutions, replacing their previous agreement. This facility carries a variable interest rate tied to credit ratings and includes a sustainability-linked pricing feature. With an initial expiry in 2028, extendable by up to a year, the deal imposes covenants on the REIT’s operations and financial ratios, while also allowing for certain subsidiaries to be exempt from guarantees. The new arrangement may adjust interest rates based on the REIT’s sustainability performance and contains standard covenants and events of default.
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