American Homes 4 Rent Announces Increase in Credit Facility and Extension of Term

 American Homes 4 Rent Announces Increase in Credit Facility and Extension of

PR Newswire

AGOURA HILLS, Calif., Sept. 30, 2013

AGOURA HILLS, Calif., Sept. 30, 2013 /PRNewswire/ --American Homes 4 Rent
(NYSE: AMH) (the "Company") today announced an amendment to its credit
facility that increases its borrowing capacity to $800 million from $500
million and extends the date when amounts borrowed need to be repaid to
September 30, 2018.

The amount that may be borrowed under the credit facility is based generally
on the borrowing base defined in the agreement. Borrowings are available until
March 7, 2015 and the borrowing period may be extended for an additional year,
subject to the satisfaction of certain financial covenant tests. The credit
facility bears interest at 30 day LIBOR plus 2.75% (3.125% beginning in March
2017) and contains certain financial and operating covenants, including debt
ratios, minimum liquidity and adjusted tangible net worth tests.

The Company is currently in discussions with potential lending institutions
and national rating agencies regarding other potential financing and
securitization transactions. The discussions remain preliminary and there are
no agreements with any party.

About American Homes 4 Rent

American Homes 4 Rent is an internally managed Maryland real estate investment
trust, or REIT, focused on acquiring, renovating, leasing, and operating
single-family homes as rental properties. As of July 31, 2013, we owned 19,825
single-family properties in selected submarkets in 22 states and we
continually evaluate potential target markets that meet our underwriting
criteria and are located where we believe we can achieve sufficient scale for
internalized property management. We are 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.

Forward Looking Statements

This press release contains "forward looking statements." These
forward-looking statements relate to beliefs, expectations or intentions and
similar statements concerning matters that are not of historical fact and are
generally accompanied by words such as "estimate," "project," "predict,"
"believe," "expect," "anticipate," "intend," ,"potential," "plan," "goal" or
other words that convey the uncertainty of future events or outcomes. The
Company has based these forward-looking statements on its current expectations
and assumptions about future events. While the Company's management considers
these expectations to be reasonable, they are inherently subject to risks,
contingencies and uncertainties, most of which are difficult to predict and
many of which are beyond the Company's control. Investors should not place
undue reliance on these forward-looking statements. All information in this
press release is current as of the date of the release. The Company undertakes
no obligation to update any forward-looking statements to conform to actual
results or changes in its expectations. For a further description of the risks
and uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks relating to
the business of the Company in general, see the Company's filings with the
Securities and Exchange Commission.

Contact: Peter J. Nelson
Tel: (310) 774-5394
American Homes 4 Rent

SOURCE American Homes 4 Rent
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