NEW YORK, Aug. 15, 2016 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) announced today that its operating partnership, Brixmor Operating Partnership LP (the "Operating Partnership"), priced an offering of $500 million aggregate principal amount of 3.25% Senior Notes due 2023 (the "Notes"). The Notes will be issued at 99.736% of par value with a coupon of 3.25%. Interest on the Notes is payable semi-annually on March 15 and September 15 of each year, commencing March 15, 2017. The Notes will mature on September 15, 2023. The offering is expected to close on August 24, 2016, subject to customary closing conditions.
The Operating Partnership expects to use the net proceeds from this offering to repay outstanding indebtedness under its $1.25 billion unsecured revolving credit facility and for general corporate purposes. J.P. Morgan Securities LLC, Barclays Capital Inc., Jefferies LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.
The Operating Partnership has filed an effective registration statement (including a prospectus supplement and accompanying base prospectus) with the Securities and Exchange Commission (the "SEC") relating to the offering to which this communication relates. Before making an investment in the Notes, potential investors should read the prospectus supplement, the accompanying prospectus and the other documents that we and the Operating Partnership have filed with the SEC for more complete information about us and the offering. Potential investors may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies may be obtained from: J.P. Morgan Securities LLC by mail at J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York, 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, telephone collect at 1-212-834-4533; Barclays Capital Inc. by mail c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, toll-free at 1-888-603-5847 or by emailing email@example.com; Jefferies LLC by mail at Attention: Debt Capital Markets, 520 Madison Avenue, 3rd Floor, New York, NY 10022, or by emailing DCMProspectuses@Jefferies.com, or by calling 1-877-877-0696; or Wells Fargo Securities, LLC by mail at Attention: WFS Customer Service, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402 or by calling (800) 645-3751 toll-free or by emailing: firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these Notes in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer or sale of the Notes will be made only by means of a prospectus supplement relating to the offering of the Notes and the accompanying prospectus.
About Brixmor Property Group
Brixmor, a real estate investment trust (REIT), is a leading owner and operator of high-quality, open-air shopping centers. The Company's more than 500 retail centers comprise 86 million square feet in market-dominant locations across the nation and are supported by a diverse mix of highly productive non-discretionary and value-oriented retailers, as well as service and entertainment users. Brixmor is committed to maximizing the value of its portfolio by prioritizing investments, cultivating relationships and capitalizing on embedded growth opportunities through driving rents, increasing occupancy and pursuing repositioning and redevelopment projects. Headquartered in New York City, Brixmor is a partner to more than 5,500 best-in-class national, regional and local tenants and is the largest landlord to The TJX Companies and The Kroger Company.
Safe Harbor Language
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company's expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "projects," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2015, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
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SOURCE Brixmor Property Group Inc.