INDIANAPOLIS, March 8, 2012 /PRNewswire/ -- Simon Property Group, Inc. (NYSE: SPG) announced today that it had agreed to sell 8,500,000 (an increase from 7,000,000) shares of common stock in the public offering announced earlier today at $137.00 per share. The Company has granted the underwriters a 30-day option to purchase 1,275,000 additional shares of common stock to cover overallotments, if any. This offering is expected to close on March 14, 2012.
Additionally, the Company announced today that its majority-owned operating partnership subsidiary, Simon Property Group, L.P. (the "Operating Partnership"), has agreed to sell $1.75 billion aggregate principal amount of its senior unsecured notes consisting of $600 million of 2.150% notes due 2017, $600 million of 3.375% notes due 2022 and $550 million of 4.750% notes due 2042, resulting in a weighted average coupon of 3.39% and a weighted average term of 14.7 years. This offering is expected to close on March 13, 2012.
The Company intends to use the net proceeds of the offerings to fund (or repay borrowings used prior to the closing of the offerings to fund) two recently announced transactions: the purchase of a 28.7% equity interest in Klepierre, a publicly-traded French REIT, from BNP Paribas; and the purchase of additional interests in 26 properties in the Mills portfolio from Farallon Capital Management, L.L.C. and for general corporate and partnership purposes.
J.P. Morgan, BofA Merrill Lynch, Goldman, Sachs & Co., Citigroup, Deutsche Bank Securities and Morgan Stanley are the joint book-running managers of the common stock offering. J.P. Morgan, RBS, UBS Investment Bank, Barclays Capital, Credit Suisse, and RBC Capital Markets are the joint book-running managers of the senior notes offering.
Copies of the prospectus supplement and accompanying prospectus for the common stock offering can be obtained by contacting: J.P. Morgan, Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 866-803-9204; BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department or email firstname.lastname@example.org; or Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526, facsimile: 212-902-9316 or by emailing email@example.com.
Copies of the prospectus supplement and accompanying prospectus for the senior notes offering can be obtained by contacting: J.P. Morgan, 383 Madison Avenue, New York, NY 10179, telephone: 212-834-4533; RBS, 600 Washington Boulevard, Stamford, CT 06901, telephone: 866-884-2071; or UBS Investment Bank, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Specialist, telephone: 877-827-6444, ext. 561 3884.
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.
About Simon Property Group
Simon Property Group, Inc. is an S&P 500 company and the largest real estate company in the world. The Company currently owns or has an interest in 337 retail real estate properties in North America and Asia comprising 245 million square feet. The Company is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. Simon Property Group, Inc. common stock is publicly traded on the NYSE under the symbol SPG.
SOURCE Simon Property Group, Inc.
Investors: Shelly Doran, +1-317-685-7330; Media: Les Morris, +1-317-263-7711