Brixmor Operating to repay revolver borrowings via add-on notes

By Marisa Wong

Los Angeles, Aug. 17 – Brixmor Operating Partnership LP plans to repay outstanding debt under its $1.25 billion unsecured revolving credit facility using proceeds from an offering of senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

Brixmor plans to price an add-on to its $500 million of 4.05% senior notes due 2030 issued on June 10.

As of Aug. 17, $145.5 million of borrowings were outstanding under the revolver.

The variable interest rate was 1.28% as of Aug .12.

The loan matures on Feb. 28, 2023, with two six-month extension options.

Brixmor owns and develops retail shopping centers. The real estate investment trust is based in New York.

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