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Article: Simon Property Group Announces Completion of $500 Million Sale of Senior Unsecured Notes.
- Article from:
- PR Newswire
- Article date:
- March 18, 2003
CopyrightCOPYRIGHT 2003 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 4.875% Notes due 2010
$200 million of 5.450% Notes due 2013
Including the effect of hedging activities, the all-in effective yield is 4.67% for the seven-year notes, 5.19% for the ten-year notes and a blended effective yield of 4.88% for the entire offering. Net proceeds from the offering will be used to pay down Simon Property Group, L.P. unsecured ...