Camden Property Trust priced a $600 million offering of senior unsecured notes due 2036 on February 17 2026. The notes carry a 4.900% coupon and were issued at 99.936% of par, yielding approximately $594 million in net proceeds.
The company will use the proceeds to repay portions of its $1.2 billion unsecured revolving credit facility and its $600 million commercial paper program, and for general corporate purposes such as property acquisitions, development, capital expenditures and working capital. The financing also supports an authorized $600 million share‑repurchase program and a dividend increase to $1.06 per share.
The offering is part of Camden’s portfolio‑upgrade strategy and its effort to maintain a conservative debt profile. By refinancing existing short‑term debt at a fixed 4.9% rate, the company locks in lower borrowing costs and secures liquidity for future growth. Camden owns and operates 172 properties, housing 58,759 apartment homes, and expects to expand to 59,921 homes in 175 properties as development projects close.
Financially, Camden has a moderate debt‑to‑equity ratio of 0.89, an operating margin of 18.36%, and an Altman Z‑score of 1.63, underscoring its investment‑grade standing. The new notes reinforce the company’s liquidity position and support its capital‑structure strategy.
The notes mature on February 28 2036, with semi‑annual interest payments on February 28 and August 28. Settlement is scheduled for February 19 2026, subject to customary closing conditions.
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