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Brixmor plans to price $400 million 10-year senior notes; price talk 145 bps area over Treasuries
By Devika Patel and Cristal Cody
Knoxville, Tenn., Aug. 11 – Brixmor Operating Partnership LP intends to price a $400 million offering of 10-year fixed-rate senior notes, according to a market source and a 424B5 filing with the Securities and Exchange Commission.
Price talk is in the 145 basis points area over Treasuries.
The notes due Aug. 16, 2031 have a make-whole call and then a par call.
BofA Securities Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc. and Mizuho Securities USA Inc. are the bookrunners.
Proceeds will be used for general corporate purposes, including repurchasing or redeeming some or all of the company’s $500 million of outstanding 3.25% notes due Sept. 15, 2023.
New York-based Brixmor is the operating partnership through which Brixmor Property Group Inc. owns and operates retail shopping centers.
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