Retail real estate investment trust Simon Property Group Inc. amended and extended its $3.5 billion unsecured multicurrency revolving credit facility, which can be increased to up to $4.5 billion.
The facility will initially mature June 30, 2022, and comes with a one-year extension option. The interest rate on the new revolver is reduced to the London Interbank Offered Rate plus 77.5 basis points.
JPMorgan Chase and Merrill Lynch Pierce Fenner & Smith were the joint lead arrangers and joint bookrunners of the facility. BB&T, BBVA Compass, Fifth Third, ING and MUFG Union Bank acted as senior managing agents.
BNP Paribas, Citibank, Mizuho, PNC, SMBC, Société Générale, U.S. Bank and Wells Fargo were joint lead arrangers and co-syndication agents, while Barclays, Credit Suisse, Deutsche, Goldman Sachs, Morgan Stanley, Regions Bank, Royal Bank of Canada, Santander Bank, Scotia Bank, SunTrust and T.D. Bank served as co-documentation agents.
There were also six additional managing agents and co-lenders for the facility.