Simon Property Group Sells $1B Aggregate Principal Amount Of Its 4.750% Notes Due 2034
Portfolio Pulse from Benzinga Newsdesk
Simon Property Group's operating partnership is set to sell $1 billion in 4.750% notes due 2034. The proceeds will be used for general corporate purposes, including debt repayment. The offering is expected to close on September 26, 2024.
September 23, 2024 | 8:36 pm
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Simon Property Group's operating partnership is issuing $1 billion in 4.750% notes due 2034. The funds will be used for general corporate purposes, including debt repayment.
The issuance of $1 billion in notes by Simon Property Group's operating partnership is a significant financial move, indicating a strategy to manage debt and fund corporate activities. However, as the proceeds are for general purposes, the immediate impact on stock price is neutral.
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