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BRIEF-Avalonbay says yield maintenance penalty to have no effect on core FFO/shr

June 12 Avalonbay Communities Inc:

* Avalonbay Communities - given notice to Freddie Mac that on june 30 intends to prepay all indebtedness outstanding under co's Freddie Mac secured debt pool

* Avalonbay Communities - prepayment of debt pool will require payment of yield maintenance penalty, which is estimated to be about $34 million as of June 9 -sec filing

* Avalonbay Communities Inc - yield maintenance penalty will be a charge to co's earnings in Q2

* Avalonbay Communities Inc - aggregate principal amount of secured indebtedness outstanding in connection with the debt pool is $556.3 million as of june 1, 2017

* Avalonbay Communities Inc - yield maintenance penalty will be adjusted out of company's 2017 core FFO for both Q2 and full year

* Avalonbay Communities - prepayment of Freddie Mac debt pool, payment of yield maintenance penalty were not contemplated in co's financial outlook for 2017

* Avalonbay Communities - yield maintenance penalty is expected to reduce 2017 FFO per share for Q2 and full year by $0.25 and $0.25, respectively

* Avalonbay Communities Inc - yield maintenance penalty will have no effect on core FFO per share

* Avalonbay Communities - yield maintenance penalty is expected to reduce co's 2017 earnings per share for Q2, full year by $0.25 and $0.25, respectively

* Avalonbay Communities - yield maintenance penalty will be charge to earnings in Q2, is expected to reduce 2017 EPS for Q2 and FY by $0.25 and $0.25 Source text: (bit.ly/2sTLHAy) Further company coverage:

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