NEW YORK, Sept. 2, 2021 /PRNewswire/ -- Brixmor
Property Group Inc. (NYSE: BRX) ("Brixmor" or the "Company")
announced today that its operating partnership, Brixmor Operating
Partnership LP (the "Operating Partnership"), completed its
previously announced redemption of $500,000,000.00 aggregate principal amount of its
3.250% Senior Notes due 2023 (CUSIP Number 11120V AD5) (the "Senior
Notes"), representing all of the outstanding Senior Notes, on
September 2, 2021. The Senior Notes
were redeemed pursuant to their terms at 105.100% of the principal
amount, plus accrued and unpaid interest up to, but excluding,
September 2, 2021. The total
aggregate redemption price was $533.0
million, including $7.5
million in accrued interest. The Company financed the
redemption with cash on hand, including the net proceeds from the
issuance and sale by the Operating Partnership of its 2.500% Senior
Notes due 2031. In connection with the redemption, the Company
will recognize a loss on extinguishment of debt of approximately
$27.1 million, or $0.09 per diluted share, in the
third quarter of 2021.
ABOUT BRIXMOR PROPERTY GROUP
Brixmor (NYSE: BRX) is a real estate investment trust (REIT)
that owns and operates a high-quality, national portfolio of
open-air shopping centers. Its 389 retail centers comprise
approximately 68 million square feet of prime retail space in
established trade areas. The Company strives to own and
operate shopping centers that reflect Brixmor's vision "to be the
center of the communities we serve" and are home to a diverse mix
of thriving national, regional and local retailers. Brixmor
is a proud real estate partner to approximately 5,000 retailers
including The TJX Companies, The Kroger Co., Publix Super Markets
and Ross Stores.
Brixmor announces material information to its investors in SEC
filings and press releases and on public conference calls, webcasts
and the "Investors" page of its website at www.brixmor.com. The
Company also uses social media to communicate with its investors
and the public, and the information Brixmor posts on social media
may be deemed material information. Therefore, Brixmor encourages
investors and others interested in the Company to review the
information that it posts on its website and on its social media
channels.
SAFE HARBOR LANGUAGE
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements include, but are not limited to, statements related to
the Company's expectations regarding the performance of its
business, its financial results, its liquidity and capital
resources and other non-historical statements. You can
identify these forward-looking statements by the use of words such
as "outlook," "believes," "expects," "potential," "continues,"
"may," "will," "should," "seeks," "projects," "predicts,"
"intends," "plans," "estimates," "anticipates" or the negative
version of these words or other comparable words. Such
forward-looking statements are subject to various risks and
uncertainties, including those described under the sections
entitled "Forward-Looking Statements" and "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2020 and the Company's
Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, as such factors may be updated
from time to time in our periodic filings with the SEC, which are
accessible on the SEC's website at www.sec.gov. Currently, one of
the most significant factors that could cause actual outcomes or
results to differ materially from forward-looking statements is the
adverse effect of the current pandemic of the novel coronavirus, or
COVID-19, on the financial condition, operating results and cash
flows of the Company, the Company's tenants, the real estate
market, the financial markets and the global economy. The COVID-19
pandemic has impacted the Company and its tenants significantly,
and the extent to which it continues to impact the Company and its
tenants will depend on future developments, which are highly
uncertain and cannot be predicted with confidence, including the
scope, severity and duration of the pandemic, the speed and
effectiveness of vaccine and treatment developments and their
deployment, public adoption rates of COVID-19 vaccines and their
effectiveness against emerging variants of COVID-19, such as the
Delta variant, the direct and indirect economic effects of the
pandemic and containment measures, and potential sustained changes
in consumer behavior, among others. Accordingly, there are or will
be important factors that could cause actual outcomes or results to
differ materially from those indicated in these statements. These
factors should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements that are included
in this release and in the Company's filings with the SEC. The
Company undertakes no obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as required by law.
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SOURCE Brixmor Property Group Inc.