Simon Property Group (SPG) prices $1.35 billion equity offering.

Simon Property Group (SPG) announced today that it has priced an offering of 19.25 million common shares at $72.50/share.  Net proceeds from the offering were said to be approximately $1.35 billion.  BofA Securities and Citigroup are acting as joint book-running managers.

Simon said that proceeds from the offering would be used to fund a portion of the purchase price for Taubman Centers.