Simon Property Group Announces Closing Of Senior Notes Offering

Jan 21, 2014, 12:01 ET from Simon Property Group, Inc.

INDIANAPOLIS, Jan. 21, 2014 /PRNewswire/ -- Simon Property Group, Inc. (NYSE: SPG) announced today that its majority-owned operating partnership subsidiary, Simon Property Group, L.P. (the "Operating Partnership"), has closed the $1.2 billion debt offering announced last week:

  • $600 million principal amount of 2.200% senior unsecured notes due February 1, 2019 priced to yield 65 basis points above the then prevailing U.S. Treasury Rate, and
  • $600 million principal amount of 3.750% senior unsecured notes due February 1, 2024 priced to yield 100 basis points above the then prevailing U.S. Treasury Rate.

"We are very pleased with the market's positive response to these offerings," said David Simon, Chairman and Chief Executive Officer. "The order books had approximately $4 billion of investor demand, and the T+65 bps on the 5-year notes marks the lowest 5-year unsecured spread ever priced by a real estate company."

About Simon Property Group
Simon Property Group, Inc. (NYSE: SPG) is an S&P 100 company and a global leader in the retail real estate industry.  The Company currently owns or has an interest in more than 325 retail real estate properties in North America and Asia comprising approximately 242 million square feet. We are headquartered in Indianapolis, Indiana and employ approximately 5,500 people in the U.S.  For more information, visit the Simon Property Group website at www.simon.com.

SOURCE Simon Property Group, Inc.



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