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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowReal estate investment trust Simon Property Group Inc. today announced plans to issue another
$500 million in its 5-year senior notes.
The notes will be issued by its majority-owned partnership subsidiary Simon
Property Group LP.
The issue would be a reopening of the 6.75 percent notes due 2014 issued on May 15. A successful
reopening would result in a total of $1.1 billion of the senior notes outstanding.
Proceeds will be used for general
business purposes, the company said.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman, Sachs &
Co., and UBS Securities LLC are serving as joint book-running managers of the offering.
Shares of Simon Property rose
44 cents to $63.43 in afternoon trading.
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