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Article: Simon Property Group Announces Completion Of $500 Million Sale of Senior Unsecured Notes.
- Article from:
- PR Newswire
- Article date:
- January 20, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Simon Property Group, Inc. (the "Company") announced today that its partnership subsidiary, Simon Property Group, L.P., has completed the sale of $500 million of debt securities. The issue included the following tranches of senior unsecured notes:
$300 million of 3.75% Notes due 2009
$200 million of 4.90% Notes due 2014
Concurrent with the bond pricing, the Company swapped the five-year tranche to floating rate debt at an effective rate of six month Libor in arrears plus less than one basis point. Net proceeds from the offering will be used to repay existing indebtedness. The transaction was priced on January ...