INDIANAPOLIS, March 20 /PRNewswire-FirstCall/ -- Simon Property Group,
Inc. (NYSE: SPG) announced today that it has agreed to sell $650 million of
senior notes of its majority-owned partnership subsidiary, Simon Property
Group, L.P., in an underwritten public offering through Banc of America
Securities LLC, Goldman, Sachs & Co. and J.P. Morgan Securities Inc. as joint
book-running managers and Credit Suisse Securities (USA) LLC and Greenwich
Capital Markets, Inc. as co-managers. The offering consists of $650 million
of 10.35% notes due 2019. The notes were priced at 97.578% of the principal
amount to yield 10.75% to maturity. The offering is expected to close on
March 25, 2009.
Simon will use the net proceeds from this offering to reduce the
outstanding balance on its unsecured credit facility and for general corporate
Copies of the prospectus may be obtained from Banc of America Securities
LLC, Attn: Prospectus Department, 100 West 33rd Street, 3rd Floor, New York,
New York 10001, telephone: 1 (800) 294-1322; Goldman, Sachs & Co., Attn:
Prospectus Department, 85 Broad Street, New York, New York 10004, telephone: 1
(866) 476-2526, facsimile: 1 (212) 902-9316 or firstname.lastname@example.org;
or J.P. Morgan Securities Inc., Attn: Investment Grade Syndicate Desk, 270
Park Avenue, 8th Floor, New York, New York 10017, telephone: 1 (212) 834-4533,
facsimile: 1 (212) 834-6081.
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities in any jurisdiction to any
person to whom it is unlawful to make such offer or solicitation in such
About Simon Property Group
Simon Property Group, Inc. is an S&P 500 company and the largest public
U.S. real estate company. The Company is a fully integrated real estate
company which operates from five retail real estate platforms: regional
malls, Premium Outlet Centers(R), the Mills(R), community/lifestyle centers
and international properties. It currently owns or has an interest in 386
properties comprising 263 million square feet of gross leasable area in North
America, Europe and Asia. The Company is headquartered in Indianapolis,
Indiana and employs more than 5,000 people worldwide. 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./
/Web Site: http://www.simon.com /
CO: Simon Property Group, Inc.; Simon Property Group, L.P.
IN: FIN RLT
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