NEW YORK, Aug. 17, 2020 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) announced today that its operating partnership, Brixmor Operating Partnership LP (the "Operating Partnership"), priced an offering of $300 million aggregate principal amount of 4.050% Senior Notes due 2030 (the "Notes"). The Notes will be issued at 107.172% of par value with a coupon of 4.050%, plus accrued and unpaid interest from, and including, June 10, 2020 to, and excluding, the expected settlement date, with a reoffer yield of 3.178%. Interest on the Notes is payable semi-annually on January 1 and July 1 of each year, commencing January 1, 2021. The Notes will mature on July 1, 2030. The Notes constitute a further issuance of, and form a single series with, the Operating Partnership's previously issued 4.050% Senior Notes due 2030, $500 million of which are currently outstanding. The offering is expected to close on August 20, 2020, subject to the satisfaction of customary closing conditions.
The Operating Partnership intends to use the net proceeds from this offering for general corporate purposes, which may include repaying outstanding indebtedness under its $1.25 billion unsecured revolving credit facility. BofA Securities, Inc., Jefferies LLC, Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc. 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: BofA Securities, Inc., NC1-004-03-43 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at [email protected]; or Jefferies LLC, 520 Madison Avenue, 3rd Floor, New York, NY 10022, Attention: High Grade Syndicate Desk, or by telephone: 1-877-877-0696; or Scotia Capital (USA) Inc., 250 Vesey Street, New York, NY 10281, or by telephone: 1-800-372-3930; or U.S. Bancorp Investments, Inc., 214 N. Tryon St., 26th Floor, Charlotte, NC 28202, Attention: Credit Fixed Income, or by telephone: 1-877-558-2607.
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 (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 398 retail centers comprise approximately 70 million square feet of prime retail space in established trade areas. Brixmor strives to own and operate shopping centers that reflect its vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a proud real estate partner to approximately 5,000 retailers including The TJX Companies, The Kroger Co., Publix Super Markets, Wal-Mart, Ross Stores and L.A. Fitness.
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 Brixmor'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 sections entitled "Forward-Looking Statements" and "Risk Factors" in Brixmor's Annual Report on Form 10-K for the year ended December 31, 2019 and Brixmor's Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, 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. Currently, one of the most significant factors that could cause actual outcomes to differ materially from forward-looking statements is the potential adverse effect of the current pandemic of the novel coronavirus, or COVID-19, on the financial condition, operating results and cash flows of Brixmor's, Brixmor's tenants, the real estate market, the global economy and the financial markets. The extent to which the COVID-19 pandemic impacts Brixmor and its tenants will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the direct and indirect economic effects of the pandemic and containment measures, and potential changes in consumer behavior, among others. 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 Brixmor's filings with the SEC. Brixmor 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.