Simon Property Group Announces The Closing Of Two Senior Notes Offerings

INDIANAPOLIS, Dec. 17, 2012 /PRNewswire-FirstCall/ -- Simon Property Group, Inc. (NYSE:SPG) announced today that its majority-owned operating partnership subsidiary, Simon Property Group, L.P. (the "Operating Partnership"), has closed the two debt offerings announced last week:

• Public offering of $500 million principal amount of 2.75% senior unsecured notes due February 1, 2023 and
• Private offering of $750 million principal amount of 1.50% senior unsecured notes due February 1, 2018 to "qualified institutional buyers" pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act.

"We are very pleased with the market's positive response to these offerings," said David Simon, Chairman and Chief Executive Officer. "The order books had over $4 billion of demand, and the coupons for these bonds represent the lowest rates ever achieved for 10 year and 5 year bonds issued by a real estate investment trust."

SOURCE Simon Property Group, Inc.