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 facility.
The 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.
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SOURCE Simon