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Brixmor closes $250M senior notes offering

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Brixmor closes $250M senior notes offering

Brixmor Property Group Inc.'s operating partnership closed a $250.0 million offering of floating-rate senior notes due Feb. 1, 2022.

The notes carry a variable annual interest rate equal to three-month U.S. dollar London Interbank Offered Rate plus 1.05%, payable quarterly every Feb. 1, May 1, Aug. 1 and Nov. 1, starting Nov. 1, 2018.

The shopping center real estate investment trust said Brixmor Operating Partnership LP plans to use the net proceeds for the repayment of outstanding debt under its $600 million term loan and general corporate purposes.

The Bank of New York Mellon is the trustee for the notes.