American Homes 4 Rent, a leading provider of high quality single-family homes for rent, announced the company entered into a $1 billion credit agreement with a syndicate of banks led by Wells Fargo Bank, National Association, as administrative agent, Wells Fargo Securities LLC and JPMorgan Chase Bank, N.A., as bookrunners and Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., Bank of America Merrill Lynch, and Raymond James Bank, N.A., as lead arrangers.

The new credit agreement provides for a $650 million revolving credit facility and a $350 million term loan facility. The credit agreement, which matures initially in August 2019, replaces the company's existing senior secured revolving credit facility. As of August 17, 2016, there were no borrowings outstanding under either the new credit facilities or the terminated credit facility.

The interest rate on the new revolving facility is at either LIBOR plus a margin ranging from 1.75% to 2.30% or a base rate (generally determined according to a prime rate or federal funds rate) plus a margin ranging from 0.75% to 1.30%. Loans under the term loan facility accrue interest at either LIBOR plus a margin ranging from 1.70% to 2.30% or a base rate plus a margin ranging from 0.70% to 1.30%. In each case, the actual margin is determined according to a ratio of the company's total indebtedness to total asset value in effect from time to time.

American Homes 4 Rent is a leader in the single-family home rental industry and "American Homes 4 Rent" is fast becoming a nationally recognized brand for rental homes, known for high quality, good value and tenant satisfaction.