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Simon Property Group Raises $1.5 Billion with Senior Notes Sale
ByAinvest
Tuesday, Aug 12, 2025 6:19 pm ET1min read
Simon Property Group has agreed to sell $700m of 4.375% Notes due 2030 and $800m of 5.125% Notes due 2035, totaling $1.5bn in senior notes. The offering has a weighted average term of 7.8 years and a coupon rate of 4.775%. The proceeds will be used to repay $1.1bn of existing debt and for general corporate purposes. The sale is expected to close on August 19, 2025.
Indianaapolis, Aug. 12, 2025 /PRNewswire/ — Simon Property Group, a leading real estate investment trust (REIT) specializing in premier shopping, dining, entertainment, and mixed-use destinations, has announced a significant debt issuance. The company's majority-owned operating partnership subsidiary, Simon Property Group, L.P. (the "Operating Partnership"), has agreed to sell $700 million aggregate principal amount of its 4.375% Notes due 2030 and $800 million aggregate principal amount of its 5.125% Notes due 2035, totaling $1.5 billion in senior notes. The offering has a weighted average term of 7.8 years and a weighted average coupon rate of 4.775% [1].The proceeds from this offering will be used to repay a portion of the Operating Partnership's $1.1 billion outstanding principal amount of 3.500% notes due September 2025 at maturity, and any remaining net proceeds will be allocated for general corporate purposes, including the repayment of other unsecured indebtedness [1].
The sale of these senior notes is expected to close on August 19, 2025, subject to the satisfaction of customary closing conditions [1]. The public offering is being conducted under the Operating Partnership's shelf registration statement filed with the Securities and Exchange Commission. The offering is being managed by BBVA Securities Inc., J.P. Morgan Securities LLC, TD Securities (USA) LLC, and Wells Fargo Securities, LLC [1].
Investors and financial professionals are advised to review the prospectus supplement and accompanying prospectus for detailed information about the offering. These documents can be obtained by visiting EDGAR on the Securities and Exchange Commission's website at www.sec.gov, or by contacting the joint book-running managers [1].
References:
[1] https://www.prnewswire.com/news-releases/simon-property-group-sells-1-5-billion-of-senior-notes-302528292.html
[2] https://finance.yahoo.com/news/simon-property-group-sells-1-221200880.html
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