INDIANAPOLIS, Feb. 15, 2018 /PRNewswire/ -- Simon, a
global leader in premier shopping, dining and entertainment
destinations, today announced that it has amended and extended its
$3.5 billion unsecured multi-currency
revolving credit facility. The newly refinanced facility,
which can be increased to $4.5
billion during its term, will initially mature on
June 30, 2022 and can be extended for
an additional year to June 30, 2023
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
$4.0 billion revolver, provides us
with $7.5 billion of total revolving
credit capacity. The closing of this facility is a continued
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, Société Générale, U.S.
Bank and Wells Fargo were Joint Lead Arrangers and Co-Syndication
Agents; and Barclays, Credit Suisse, Deutsche, Goldman Sachs,
Morgan Stanley, Regions Bank, Royal Bank of Canada, Santander
Bank, Scotia Bank, SunTrust, and T.D. Bank were
Co-Documentation Agents; and BB&T, BBVA Compass, Fifth Third,
ING, and MUFG Union Bank as Senior Managing Agents. In
addition to the above financial institutions, there were six
Managing Agents and Co-Lenders in the facility.
About Simon
Simon is a global leader 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. For more information, visit simon.com.
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SOURCE Simon