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Simon Property Group to sell $1.5B senior notes

By Associated Press
May 13, 2008 | Comments (0)

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Simon Property Group Inc. said Tuesday it will sell $1.5 billion senior notes of its Simon Property Group LP majority-owned partnership unit in a public offering.

The offering comprises $700 million notes due 2013 and $800 million notes due 2018.

Simon, a real estate investment trust focused on retail properties, plans to use proceeds to lower the outstanding balance on its corporate credit agreement and for general corporate purposes.

The offering is targeted to close on Monday.

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