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Simon Property closes $3.5B debt offering

Simon Property Group Inc.'s operating partnership closed its public offering of a total of $3.50 billion of senior notes on Sept. 13.

The offering comprised $1.00 billion of Simon Property Group LP's 2.000% notes due Sept. 13, 2024; $1.25 billion of 2.450% notes due Sept. 13, 2029; and $1.25 billion of 3.250% notes due Sept. 13, 2049. Interest on the notes is payable semiannually in arrears every March 13 and Sept. 13, starting in 2020.

The regional mall real estate investment trust earlier said it plans to use the net proceeds to fund the early redemption of certain series of notes.

The Bank of New York Mellon Trust Co. NA is the trustee.