Simon Property Group Sells $500 Million of 5-Year Senior Notes
INDIANAPOLIS, Aug. 6 /PRNewswire-FirstCall/ -- Simon Property Group, Inc. (NYSE: SPG) announced today that its majority-owned partnership subsidiary, Simon Property Group, L.P., has agreed to sell $500 million aggregate principal amount of its 6.75% senior unsecured notes due 2014 in an underwritten offering through Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co., and UBS Securities LLC, as joint book-running managers. The notes were priced at 105.029% of the principal amount plus accrued interest from May 15, 2009 to yield 5.46% to maturity. The offering is expected to close on August 11, 2009.
Today's issue is a re-opening of the 6.75% notes due 2014 issued on May 15, 2009. Upon closing, there will be $1.1 billion of this series of senior notes outstanding.
Simon Property Group, L.P. intends to use the net proceeds of the offering for general business purposes.
Copies of the prospectus and prospectus supplement may be obtained from Citigroup Global Markets Inc., toll-free at 1-877-858-5407; Deutsche Bank Securities Inc., toll-free at 1-800-503-4611; Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004, Attention: Prospectus Department, toll-free at 1-866-471-2526; or UBS Securities LLC, 299 Park Avenue, New York, New York 10171, Attention: Prospectus Department, toll-free at 1-877-827-6444, ext. 561-3884.
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 jurisdiction.
About Simon
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 , the Mills , community/lifestyle centers and international properties. It currently owns or has an interest in 387 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. common stock is 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 for Simon Property Group, Inc.
Web Site: http://www.simon.com
