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SPG Simon Property Group Inc

140.18
0.00 (0.00%)
Pre Market
Last Updated: 09:44:50
Delayed by 15 minutes
Share Name Share Symbol Market Type
Simon Property Group Inc NYSE:SPG NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 140.18 0 09:44:50

Simon Property Group Announces Amended And Extended $4.0 Billion Revolving Credit Facility

17/03/2017 11:30am

PR Newswire (US)


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INDIANAPOLIS, March 17, 2017 /PRNewswire/ -- Simon, a global leader in retail real estate, today announced that it has amended and extended its $4.0 billion unsecured multi-currency revolving credit facilityThe newly refinanced facility, which can be increased to $5.0 billion during its term, will initially mature on June 30, 2021 and can be extended for an additional year to June 30, 2022 at the Company's sole option.  The interest rate on the new revolver is reduced to LIBOR plus 77.5 basis points and provides for borrowings denominated in U.S. Dollars, Euro, Yen, Sterling, Canadian Dollars and Australian Dollars.

"The newly refinanced credit facility enhances our already strong financial flexibility, and when combined with our existing $3.5 billion revolver, provides us with $7.5 billion of total revolving credit capacity.  The closing of this facility is an absolute endorsement and reaffirmation of the strength of our Company," said David Simon, Chairman and Chief Executive Officer.

For this facility, JPMorgan Chase and Merrill Lynch, Pierce, Fenner & Smith were Joint Lead Arrangers and Joint Bookrunners; BNP Paribas, Citibank, Mizuho, PNC, SMBC and U.S. Bank were Joint Lead Arrangers and Co-Syndication Agents; and Barclays, BBVA Compass, Credit Suisse, Deutsche, Goldman Sachs, Morgan Stanley, Royal Bank of Canada, Scotia Bank, Société Générale, SunTrust, and T.D. Bank were Co-Documentation Agents; and ING, MUFG Union Bank and Santander Bank as Senior Managing Agents.  In addition to the above financial institutions, there were eight Co-Lenders in the facility.

About Simon
Simon is a global leader in retail real estate ownership, management and development and an S&P100 company (Simon Property Group) (NYSE:SPG). Our industry-leading retail properties and investments across North America, Europe and Asia provide shopping experiences for millions of consumers every day and generate billions in annual retail sales. For more information, visit simon.com.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/simon-property-group-announces-amended-and-extended-40-billion-revolving-credit-facility-300425267.html

SOURCE Simon

Copyright 2017 PR Newswire

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