false APARTMENT INVESTMENT & MANAGEMENT CO 0000922864 0000922864 2020-03-24 2020-03-24

 

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)  March 24, 2020

 

APARTMENT INVESTMENT AND MANAGEMENT COMPANY

(Exact name of registrant as specified in its charter)

 

 

Maryland

 

1-13232

 

84-1259577

(State or other jurisdiction

 

(Commission

 

(I.R.S. Employer

of incorporation or organization)

 

File Number)

 

Identification No.)

4582 SOUTH ULSTER STREET

SUITE 1700, DENVER, CO 80237

 

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (303) 757-8101

NOT APPLICABLE

 (Former name or Former Address, if changed since last report)

 

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:

 

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 (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Aimco Investment and Management Company
Class A Common Stock

AIV

New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the exchange act.  

 


 

ITEM 2.03.Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

As previously disclosed, Apartment Investment and Management Company (“Aimco”) has an $800 million revolving credit facility that is generally used for short-term working capital needs. As of December 31, 2019, $275 million was outstanding under the revolving credit facility. On March 20, 2020, Aimco borrowed $300 million from the facility to provide additional liquidity and financial flexibility. As of March 20, 2020, outstanding borrowings under the facility totaled $581 million. The facility matures on January 22, 2022.

ITEM 7.01.Regulation FD.

On March 24, 2020, Aimco issued a press release regarding the ongoing COVID-19 pandemic and a withdrawal of its previously provided 2020 financial guidance. The press release is furnished herewith as Exhibit 99.1.

ITEM 9.01. Financial Statements and Exhibits.

       (d)            The following exhibits are furnished with this report:

 

Exhibit Number

Description

99.1

Press release dated March 24, 2020

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 


 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

Dated: March 24, 2020

 

 

 

 

 

 

APARTMENT INVESTMENT AND MANAGEMENT COMPANY

 

 

 

 

 

 

 

/s/ Paul Beldin

 

 

 

Paul Beldin

 

 

 

Executive Vice President and Chief Financial Officer