Simon Property Group, a prominent real estate investment trust (REIT) specializing in shopping, dining, and entertainment venues, has announced that its operating subsidiary, Simon Property Group, L.P., plans to issue $1 billion in senior notes. The notes, which bear a coupon rate of 4.750%, are due in 2034.
The 10-year senior notes are expected to close on September 26, 2024, pending standard closing conditions. Proceeds from the issuance will be used for general corporate purposes, including the repayment of existing unsecured debt.
The public offering is being managed by BNP Paribas, Citigroup, PNC Capital Markets LLC, and US Bancorp. The transaction is being conducted under the operating partnership’s shelf registration statement filed with the Securities and Exchange Commission (SEC).
Copies of the prospectus supplement and the accompanying prospectus will be available upon request from BNP Paribas Securities Corp., Citigroup Global Markets Inc., PNC Capital Markets LLC, and US Bancorp Investments, Inc., as specified in the announcement.
This notice does not constitute an offer to sell or solicit the purchase of these securities in any jurisdiction where such activities are not permitted under applicable laws and regulations.
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By Proptechbuzz
By Ravi Kumar