Simon Property Group Announces $800 Million Senior Notes Offering
Simon Property Group has announced a public offering of two tranches totaling $800 million in senior notes. The first tranche consists of $400 million in 5.250% notes due in 2032, and the second is $400 million in 5.650% notes maturing in 2036. These new issues have a weighted average term of 7.7 years and an average coupon rate of 5.45%. The offering is expected to close on September 16, 2026. The proceeds will be used primarily to repay the $750 million in outstanding principal from its 3.250% notes due this year, with any remaining funds allocated for general corporate purposes or repayment of other unsecured debt. J.P. Morgan, Mizuho, PNC Capital Markets LLC, and Wells Fargo Securities are acting as joint book-running managers. The offering is part of the Operating Partnership's shelf registration statement filed with the SEC.
