Mid-America Apartments Enters Material Definitive Agreement

TL;DR

MAA just signed a big deal, new debt incoming.

AI Summary

On October 21, 2025, Mid-America Apartments, L.P. entered into a material definitive agreement related to a direct financial obligation. The filing details the creation of this obligation, which is a significant event for the company's financial structure.

Why It Matters

This filing indicates a new financial commitment or obligation for Mid-America Apartments, L.P., which could impact its debt levels and financial flexibility.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can increase a company's leverage and potential financial risk.

Key Players & Entities

• Mid-America Apartments, L.P. (company) — Filer of the 8-K
• MID AMERICA APARTMENT COMMUNITIES INC. (company) — Related company
• 20251021 (date) — Date of the report

FAQ

Key Financial Figures

• $1.5 b — cility in the principal amount of up to $1.5 billion, with a $75 million sub-limit for
• $75 million — al amount of up to $1.5 billion, with a $75 million sub-limit for letters of credit. MAALP
• $2.0 billion — ebtedness under the Credit Agreement to $2.0 billion. The Credit Agreement contains variou

Filing Documents

• maa-20251021.htm (8-K) — 80KB
• maa-ex10_1.htm (EX-10.1) — 1324KB
• 0001193125-25-248770.txt ( ) — 1754KB
• maa-20251021.xsd (EX-101.SCH) — 59KB
• maa-20251021_htm.xml (XML) — 7KB

01. Entry into a Material Definitive Agreement

ITEM 1.01. Entry into a Material Definitive Agreement. On October 21, 2025, Mid-America Apartments, L.P. ("MAALP"), the operating partnership of Mid-America Apartment Communities, Inc. ("MAA"), entered into a Fifth Amended and Restated Credit Agreement (the "Credit Agreement") with Wells Fargo Bank, National Association, as Administrative Agent, Wells Fargo Securities, LLC, KeyBanc Capital Markets Inc., and JPMorgan Chase Bank, N.A., as Joint Lead Arrangers and Joint Bookrunners, KeyBank National Association and JPMorgan Chase Bank, N.A., as Co-Syndication Agents, Truist Bank, U.S. Bank National Association, PNC Bank, National Association, Citibank, N.A., TD Bank, N.A., and Mizuho Bank, LTD., as Co-Documentation Agents, and the lenders party thereto. The Credit Agreement provides an unsecured revolving credit facility in the principal amount of up to $1.5 billion, with a $75 million sub-limit for letters of credit. MAALP intends to use proceeds for general corporate purposes, including repayment of debt and backstopping any notes that MAALP may issue under its unsecured commercial paper program. The Credit Agreement is scheduled to mature on January 21, 2030, and provides for up to two six-month extensions at MAALP's option, subject to the satisfaction of certain conditions, including the payment of an extension fee of 0.05% in connections with a first extension and 0.075% in connection with a second extension, in each case, of the total commitment amount under the Credit Agreement as of the date of such extension. The amounts due under the Credit Agreement may be prepaid, in whole or in part, subject to payment of applicable breakage fees. Amounts borrowed under the Credit Agreement may be borrowed, repaid, and reborrowed until the maturity date. Amounts borrowed under the Credit Agreement will bear interest at a variable rate, at MAALP's election, of either (1) based upon the Secured Overnight Financing Rate (SOFR) plus an applicable margin ranging from 0.65%

01. Financial Sta tements and Exhibits

ITEM 9.01. Financial Sta tements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1* Fifth Amended and Restated Credit Agreement, dated as of October 21, 2025, by and among Wells Fargo Bank, National Association, as Administrative Agent, Wells Fargo Securities, LLC, KeyBanc Capital Markets Inc., and JPMorgan Chase Bank, N.A., as Joint Lead Arrangers and Joint Bookrunners, KeyBank National Association and JPMorgan Chase Bank, N.A., as Co-Syndication Agents, Truist Bank, U.S. Bank National Association, PNC Bank, National Association, Citibank, N.A., TD Bank, N.A., and Mizuho Bank, LTD., as Co-Documentation Agents, and the lenders party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The registrant agrees to furnish supplementally a copy of any omitted schedule or exhibit to the SEC upon request. SIGNA TURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. MID-AMERICA APARTMENT COMMUNITIES, INC. Date: October 23, 2025 /s/ A. Clay Holder A. Clay Holder Executive Vice President and Chief Financial Officer (Principal Financial Officer) MID-AMERICA APARTMENTS, L.P. By: Mid-America Apartment Communities, Inc., its general partner Date: October 23, 2025 /s/ A. Clay Holder A. Clay Holder Executive Vice President and Chief Financial Officer (Principal Financial Officer)

View Full Filing

View this 8-K filing on SEC EDGAR