INDIANAPOLIS, March 19 /PRNewswire-FirstCall/ -- Simon Property Group,
Inc. (NYSE: SPG) announced today that it and its majority-owned operating
partnership subsidiary, Simon Property Group, L.P., intend to conduct, subject
to market and other conditions, concurrent offerings of approximately
15,000,000 shares of common stock and approximately $500 million principal
amount of senior notes due 2019. The completion of either offering is not
conditioned on the success of the other. The Company expects to grant the
underwriters in the common stock offering an over-allotment option to purchase
2,250,000 additional shares of common stock.
Simon intends to use the net proceeds to partially repay the outstanding
balance of its $3.5 billion unsecured credit facility and for general
Goldman, Sachs & Co., Deutsche Bank Securities and UBS Investment Bank are
serving as joint bookrunning managers of the common stock offering. Goldman, Sachs & Co., J.P. Morgan and Banc of America Securites LLC are serving as joint bookrunning managers of the
senior note offering. The offerings are being conducted as public offerings
under Simon's joint shelf registration statement filed with the Securities and
Exchange Commission. Any offer of securities will be made by means of the
prospectus supplement and accompanying prospectus relating to each offering.
When available, copies of the prospectus supplement and accompanying
prospectus relating to each offering can be obtained by contacting: Goldman,
Sachs & Co., Attn: Prospectus Dept., 85 Broad St., New York, NY 10004.
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
securities in any state or other 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 other jurisdiction.
This press release contains forward-looking statements. These
forward-looking statements are subject to certain risks and uncertainties, and
actual results may differ materially from projections. Readers should
carefully review the Company's and the Operating Partnership's financial
statements and notes thereto, as well as the risk factors described in their
Annual Reports on Form 10-K for the year ended December 31, 2008, and other
reports filed from time to time with the Securities and Exchange Commission.
These forward-looking statements reflect management's judgment as of this
date, and the Company assumes no obligation to revise or update them to
reflect future events or circumstances.
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, Media: Les Morris,
+1-317-263-7711, both of Simon Property Group, Inc.
CO: Simon Property Group, Inc.