WP Glimcher to repay bridge loan borrowings via new senior notes

By Tali Rackner

Norfolk, Va., March 17 – Washington Prime Group LP, doing business as WP Glimcher, plans to repay a portion of the outstanding borrowings under its current 364-day bridge term loan agreement with the proceeds from a senior note offering, according to a press release.

Proceeds will also be used to pay accrued and unpaid interest.

The company announced a private offering of $250 million 3.85% senior notes on Tuesday.

WP Glimcher is a Columbus, Ohio-based retail real estate investment trust.

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