US-based shopping centre giant Simon Property Group has raised net proceeds of about $1.2 bn (EUR 811 mln) from the equity and debt offerings announced last week.
US-based shopping centre giant Simon Property Group has raised net proceeds of about $1.2 bn (EUR 811 mln) from the equity and debt offerings announced last week.
Simon Property said it sold a total of 17.2 million shares of its common stock at a price of $31.50 per share. The operating partnership also completed its offering of $650 million aggregate principal amount of its 10.35% senior unsecured notes due 2019.
The group plans to use the funds raised to reduce the outstanding balance on its unsecured credit facility and for general corporate purposes.
