Simon Property plans to conduct sale of notes due 2028, 2031

By Devika Patel

Knoxville, Tenn., Jan. 11 – Simon Property Group, LP expects to price dollar-denominated fixed-rate notes in two tranches due 2028 and 2031, according to a 424B5 filed with the Securities and Exchange Commission.

The notes feature a make-whole call until three months prior to maturity and then a par call.

Barclays, Deutsche Bank Securities Inc., SMBC Nikko Securities America Inc. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to redeem the company’s $500 million of 2.5% notes due July 15, 2021 and for general corporate purposes.

The real estate investment trust for retail properties is based in Indianapolis.

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