Simon Property Group Inc. majority-owned partnership subsidiary Simon Property Group LP is looking to raise $1.2 billion through a sale of senior unsecured notes. The transaction comprises $500 million and $700 million in notes, respectively, yielding 2.8 percent, due 2017, and 4.125 percent due 2021, respectively.
The net proceeds from the note sale will be used by the operating partnership for general corporate purposes and to clear the outstanding U.S. dollar balance of its senior unsecured credit facility. Citigroup Global Markets, JPMorgan Securities, Merrill Lynch, Pierce, Fenner & Smith, Deutsche Bank Securities, Goldman Sachs & Co. and Morgan Stanley & Co. are joint book runners on the transaction. Mitsubishi UFJ Securities (USA), RBC Capital Markets, SMBC Nikko Capital Markets, SunTrust Robinson Humphrey and U.S. Bancorp Investments are co-managers for the deal.
Click here for the release from PR Newswire.