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Brixmor prices $350M senior notes offering

Brixmor Property Group Inc.'s operating partnership priced a $350 million offering of 4.125% senior notes due May 15, 2029.

Brixmor Operating Partnership LP will issue the notes at 106.402% of par value, with a 4.125% coupon, plus applicable interest, with a reoffer yield of 3.333%. Interest on the notes is payable semiannually every May 15 and Nov. 15, starting Nov. 15. The offering is set to close Aug. 15.

The operating partnership will apply the net proceeds toward repaying outstanding debt under its unsecured credit facility, including a $1.25 billion unsecured revolving credit facility and a $500.0 million term loan.

Wells Fargo Securities LLC, BMO Capital Markets Corp., Jefferies LLC and U.S. Bancorp Investments Inc. are the joint book-running managers.