INDIANAPOLIS, Sept. 19,
2024 /PRNewswire/ -- Simon®, a real estate
investment trust engaged in the ownership of premier shopping,
dining, entertainment and mixed-use destinations, announced today
that its majority-owned operating partnership subsidiary, Simon
Property Group, L.P. (the "Operating Partnership"), has amended,
restated and extended its $3.5
billion multi-currency unsecured revolving credit
facility.
"The closing of this facility is a continued endorsement of the
strength of our Company. The amended, restated and extended
$3.5 billion credit facility enhances
our already strong financial flexibility, and when combined with
our existing $5.0 billion senior
unsecured credit facility provides us with $8.5 billion of total revolving credit capacity.
We appreciate the long-standing support from our lender group,"
said Brian McDade, Executive Vice
President and Chief Financial Officer.
The amended, restated and extended facility will initially
mature on January 31, 2029 and can be
extended for an additional year to January
31, 2030 at the Operating Partnership's sole option. Based
upon the Operating Partnership's current credit ratings, the
interest rate for U.S. Dollar borrowings is unchanged from the
prior facility at SOFR plus 82.5 basis points (inclusive of a 10
basis point SOFR spread adjustment). The facilities are supported
by a globally diverse lender group composed of 28 banks.
About Simon
Simon® is a real estate
investment trust engaged in the ownership of premier shopping,
dining, entertainment and mixed-use destinations and an S&P 100
company (Simon Property Group, NYSE: SPG). Our properties across
North America, Europe and Asia provide community gathering places for
millions of people every day and generate billions in annual
sales.
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SOURCE Simon