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Simon Property unit closes $1.4B notes offering

Simon Property Group Inc.'s operating partnership closed its public offering of $1.35 billion of senior notes.

The offering comprises $600.0 million of 2.750% senior notes due June 1, 2023, and $750.0 million of 3.375% senior notes due Dec. 1, 2027.

The company earlier said the operating partnership plans to use the net proceeds to fund the proposed optional redemption at par of all $750 million of its 1.50% notes due February 2018 and for general business purposes.

Barclays Capital Inc., Citigroup Global Markets Inc., RBC Capital Markets LLC and SMBC Nikko Securities America Inc. were representatives of the underwriters for the offering.