A Washington Prime Group Inc. unit priced an underwritten public offering of $750 million of 5.950% notes due Aug. 15, 2024.
The company is offering the notes at 98.467% with a yield to maturity of 6.222%.
The offering is set to close by Aug. 4.
The unit aims to use the net proceeds to repay the outstanding debt under its May 2014 term loan and decrease remaining borrowings under its June 2015 term loan.
BofA Merrill Lynch, Goldman Sachs & Co. LLC, Jefferies LLC and U.S. Bancorp Investments Inc. are the joint book-running managers for the offering.