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 17, 2006
American Campus Communities, Inc.
(Exact Name of Registrant as Specified in its Charter)
Commission File Number: 001-32265
MD 760753089
(State or Other Jurisdiction Of (I.R.S. Employer
Incorporation or Organization) Identification No.)
805 Las Cimas Parkway Suite 400
Austin, TX 78746
(Address of Principal Executive Offices, Including Zip Code)
512-732-1000
(Registrant's Telephone Number, Including Area Code)
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 (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act(17CFR240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act(17CFR240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act(17CFR240.13e-4(c))
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Items to be Included in this Report
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Item 1.01 Entry into a Material Definitive Agreement
On August 17, 2006, American Campus Communities, Inc., as Parent Guarantor,
entered into a First Amended and Restated Credit Agreement among American Campus
Communities Operating Partnership LP, the Subsidiary Guarantors listed on the
signature pages thereto, KeyBank National Association, as Administrative Agent,
and the other lenders that are signatories thereto, pursuant to which, among
other items, the size of its $100 million unsecured revolving credit facility
was increased to $115 million, and may be expanded by up to an additional $110
million upon the satisfaction of certain conditions. In addition, the maturity
date of the amended and restated facility was extended two years to August 17,
2009, and contains more favorable financial covenants and lower interest rate
spreads than those contained in the prior facility. The amended and restated
facility is available to, among other things, fund future property development,
acquisitions, and other working capital needs. The description herein of the
amended facility is qualified in its entirety, and the terms therein are
incorporated herein, by reference to the amended filed as Exhibit 99.1 hereto.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of Registrant
The information set forth in Item 1.01 is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit
Number Title
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99.1 First Amended and Restated Credit Agreement, dated as of August
17, 2006, among American Campus Communities Operating Partnership
LP, American Campus Communities, Inc., as Parent Guarantor, the
Subsidiary Guarantors listed on the signature pages thereto,
KeyBank National Association, as Administrative Agent, and the
other lenders that are signatories thereto.
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Signature(s)
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 hereunto duly authorized.
American Campus Communities, Inc.
By: /s/ Jonathan Graf
Date: August 22, 2006. --------------------------------
Senior Vice President, Chief
Accounting Officer and Treasurer
(Principal Accounting Officer)
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