Simon Property Group Announces Closing on Issuance of $1.25 Billion of Senior Notes
INDIANAPOLIS, Dec. 12 /PRNewswire-FirstCall/ -- Simon Property Group, Inc.
(the "Company") (NYSE: SPG) announced today the closing of an offering of
$1.25 billion of senior notes by its operating partnership subsidiary, Simon
Property Group, L.P. (the "Operating Partnership"). The offering consisted of
$600 million of 5.00% notes due 2012 and $650 million of 5.25% notes due 2016.
The Operating Partnership intends to use the proceeds to pay off the
$660 million U.S. dollar balance of its $3 billion unsecured credit facility
and the remainder will be available for general working capital purposes.
This press release shall not constitute an offer to sell or a solicitation
of an offer to buy any security and shall not constitute an offer,
solicitation or sale of any securities in any jurisdiction where such an
offering would be unlawful.
Simon Property Group, Inc., an S&P 500 company headquartered in
Indianapolis, Indiana, is a real estate investment trust engaged in the
ownership, development and management of retail real estate, primarily
regional malls, Premium Outlet Centers(R) and community/lifestyle centers. The
Company's current total market capitalization is approximately $48 billion.
Through its subsidiary partnership, it currently owns or has an interest in
286 properties in the United States containing an aggregate of 201 million
square feet of gross leasable area in 38 states plus Puerto Rico. Simon also
owns interests in 53 European shopping centers in France, Italy, and Poland; 5
Premium Outlet Centers in Japan; and one Premium Outlet Center in Mexico.
Additional Simon Property Group information is available at
http://www.simon.com . Simon Property Group, Inc. is publicly traded on the
NYSE under the symbol SPG.
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./