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): August 14, 2009
AMERICAN CAMPUS COMMUNITIES, INC.
(Exact name of Registrant as specified in its Charter)
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| Maryland
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001-32265
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760753089 |
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(Commission file number)
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(I.R.S. Employer |
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Identification Number) |
805 Las Cimas Parkway Suite 400
Austin, TX 78746
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (512) 732-1000
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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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 August 14, 2009, American Campus Communities, Inc., as Parent Guarantor (the “Company”),
entered into a Second Amended and Restated Credit Agreement (the “Agreement”) with American Campus
Communities Operating Partnership LP, the Company’s operating partnership, as Borrower; the other
subsidiaries of the Company listed on the signature pages thereto, as Subsidiary Guarantors; the
lenders listed on the signature pages thereto, as Initial Lenders; KeyBank National Association, as
the initial issuer of letters of credit, Administrative Agent and Swingline Bank; JPMorgan Chase
Bank, N.A. and Bank of America, N.A., as Co-Syndication Agents; Deutsche Bank Trust Company
Americas and U.S. Bank National Association, as Co-Documentation Agents; and KeyBanc Capital
Markets Inc., as Lead Arranger. Pursuant to the Agreement, the size of the Company’s $160 million
revolving credit facility was increased to $225 million, and may be expanded by up to an additional
$75 million upon the satisfaction of certain conditions. In addition, the maturity date of the
amended facility was extended to August 14, 2012, and can be extended for an additional 12 months
to August 14, 2013. The amended facility is secured by seven of the Company’s student housing
properties. The Company and certain of its subsidiaries guarantees the Borrower’s obligations
under the amended facility. The Company intends to use the amended facility to, among other
things, fund acquisitions, other working capital needs and future property development, such as the
ACE™ (American Campus Equity) program. The description herein of the amended facility is qualified
in its entirety, and the terms therein are incorporated herein, by reference to the Agreement
filed as Exhibit 99.1 hereto.
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Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of Registrant |
The information contained in Item 1.01 is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
The Exhibits to this Report are listed on the Exhibit Index attached hereto.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
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| Date: August 17, 2009 |
AMERICAN CAMPUS COMMUNITIES, INC.
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By: |
/s/ Jonathan A. Graf
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Jonathan A. Graf |
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Executive Vice President, Chief Financial
Officer and Treasurer |
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