Simon Property Group Announces Completion of $900 Million Sale of Senior Unsecured Notes
INDIANAPOLIS, Aug. 11 /PRNewswire-FirstCall/ -- Simon Property Group, Inc.
(NYSE: SPG) (the "Company") announced today that its partnership subsidiary,
Simon Property Group, L.P., has completed the sale of $900 million of debt
securities. The issue included the following tranches of senior unsecured
$400 million of 4.875% Notes due 2010
$500 million of 5.625% Notes due 2014
The all-in effective yield is 4.965% for the six-year notes and 5.675% for
the ten-year notes. The blended effective yield for the entire offering is
5.359%. Net proceeds from the offering will be used to repay existing
indebtedness and for general corporate purposes. The transaction was priced
on August 4, 2004.
All securities in this offering are rated Baa2 by Moody's Investors
Service and BBB by Standard & Poor's. The transaction was placed by
Citigroup, Deutsche Bank Securities and JPMorgan as joint book-running
managers with Banc of America Securities LLC and Wachovia Securities as co-
managers. The notes were sold only to qualified institutional buyers pursuant
to Rule 144A under the Securities Act of 1933 and to non-U.S. persons under
Regulation S under the Securities Act.
Simon Property Group, Inc. (NYSE: SPG), headquartered in Indianapolis,
Indiana, is a real estate investment trust engaged in the ownership,
development and management of income-producing properties, primarily regional
malls and community shopping centers. Through its subsidiary partnerships, it
currently owns or has an interest in 245 properties in North America
containing an aggregate of 189 million square feet of gross leasable area in
37 states plus Canada and Puerto Rico. The Company also holds interests in 48
assets in Europe (in France, Italy, Poland and Portugal). Additional Simon
Property Group information is available at http://www.simon.com .
SOURCE Simon Property Group, Inc.
CONTACT: Investors: Shelly Doran, +1-317-685-7330, or Media: Les Morris,
+1-317-263-7711, both of Simon Property Group, Inc./