WASHINGTON (dpa-AFX) - Simon Property Group, Inc. (SPG) said Thursday that its majority-owned partnership subsidiary, Simon Property Group, L.P., has agreed to sell $1.2 billion of its senior unsecured notes in an underwritten public offering.
The offering consists of $500.0 million of 2.800% notes due 2017 and $700.0 million of 4.125% notes due 2021. The offering is expected to close on November 16.
Simon Property Group, L.P. plans to use the net proceeds from the offering to partially repay the outstanding U.S. dollar balance of its senior unsecured credit facility and for general business purposes.
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