Simon Property Group, L.P. priced an $800 million senior notes offering, split equally between two tranches, according to a press release issued from Indianapolis.
The first tranche comprises $400 million of notes bearing a coupon of 5.250%, maturing in 2032. The second tranche consists of $400 million of notes at 5.650%, maturing in 2036. The weighted average term of the offering is 7.7 years, and the weighted average coupon rate stands at 5.450%.
Proceeds from the sale will be used to repay all or part of the Operating Partnership’s $750 million outstanding 3.250% notes due 2026. Any remaining proceeds are expected to fund general corporate purposes, including repayment of other unsecured debt, the filing stated.
J.P. Morgan, Mizuho, PNC Capital Markets LLC, and Wells Fargo Securities are acting as joint book-running managers for the transaction. The public offering is being made pursuant to the Operating Partnership’s shelf registration statement filed with the Securities and Exchange Commission.
Simon Property Group trades on the New York Stock Exchange under the ticker SPG. It is a real estate investment trust that owns shopping, dining, entertainment, and mixed-use properties across North America, Europe, and Asia.
The transaction is expected to close on September 16, 2026, subject to customary closing conditions.
