Simon Property Group announced that its majority-owned operating partnership subsidiary, Simon Property Group, L.P., has agreed to sell $800 million of senior notes, split evenly between $400 million of 5.250% notes due 2032 and $400 million of 5.650% notes due 2036. The combined issues have a weighted average term of 7.7 years and a weighted average coupon rate of 5.450%. The offering is expected to close on September 16, 2026, subject to customary conditions. Net proceeds will be used to repay all or part of the $750 million outstanding 3.250% notes due 2026, with any remainder for general corporate purposes. J.P. Morgan, Mizuho, PNC Capital Markets LLC, and Wells Fargo Securities are joint book-running managers.
Mizuho Financial Group, Inc.
Wells Fargo & CompanySimon Property Group IncSimon sells $800M of senior notes to refinance $750M of 3.250% notes due 2026, a debt financing/refinancing event.
JPMorgan Chase & Co