Simon Property Group (SPG) prices $1.5 billion senior note offering.

Simon Property Group announced today that it has priced a two-part offering of senior unsecured notes totaling $1.5 billion.  The offering included:

• • • $800 million 1.750% senior notes due 2028.  The notes were priced at a discount to yield 1.786% or +95 basis points to the treasury curve.
    • $700 million 2.200% senior notes due 2031.  The notes were priced at a discount to yield 2.238% or +110 basis points to the treasury curve.

Simon said that proceeds from the offering would be used to fund the early redemption of SPG's $550 million 2.50% senior notes due July 2021, and for other corporate purposes.

01/11/2021