CAMDEN PROPERTY TRUST 8-K

What Happened
Camden Property Trust announced it entered into an underwriting agreement on February 17, 2026 and closed the issuance on February 19, 2026 of $600,000,000 aggregate principal amount of 4.900% senior notes due February 28, 2036. The notes were issued under the company’s existing shelf registration and bear interest at 4.900% from February 19, 2026, with semiannual interest payments each February 28 and August 28 beginning August 28, 2026.

Key Details

• Offering size and pricing: $600.0 million principal; priced at 99.936% of face; net proceeds approximately $594.0 million after underwriting discounts and expenses.
• Use of proceeds: to repay a portion of the outstanding balance on the company’s $1.2 billion unsecured revolving credit facility, repay a portion of amounts outstanding under its $600 million commercial paper program, and for general corporate purposes (including possible property acquisitions, development, capex, working capital).
• Terms: maturity February 28, 2036; company may redeem notes at any time (in whole or part) at principal + accrued interest plus a make-whole premium (if redeemed on/after three months before maturity, redemption price is 100% of principal plus accrued interest).
• Parties: Underwriters led by BofA Securities, J.P. Morgan Securities, PNC Capital Markets and U.S. Bancorp Investments; notes issued under an indenture with U.S. Bank Trust Company, N.A. as trustee. Several underwriters or their affiliates have existing banking relationships with Camden and may receive a portion of proceeds indirectly via repayment of borrowings.

Why It Matters
This filing documents Camden taking on a new long-term debt obligation (10-year maturity) to refinance short-term borrowings and its revolver, improving liquidity profile by replacing some short-term commercial paper and revolver usage with longer-term fixed-rate debt. Investors should note the interest cost (4.900%) and the expected reduction in short-term leverage, as well as relationships between underwriters and the company that could affect placement and fees.