Simon Property Group announces amended and extended revolving credit facility

American commercial real estate company Simon Property Group recently announced it has amended and extended its US$3.5 billion unsecured multi-currency revolving credit facility.

The newly refinanced facility, which can be increased to US$4.5 billion during its term, will initially mature on June 30, 2022 and can be extended for an additional year to June 30, 2023 at the company’s sole option. The interest rate on the new revolver is reduced to LIBOR plus 77.5 basis points and provides for borrowings denominated in US dollars, Euro, Yen, Sterling, Canadian dollars and Australian dollars.

“The newly refinanced credit facility enhances our already strong financial flexibility and when combined with our existing US$4 billion revolver, provides us with US$7.5 billion of total revolving credit capacity. The closing of this facility is a continued endorsement and reaffirmation of the strength of our company,” said Simon chairman and chief executive officer David Simon.

For this facility, JPMorgan Chase and Merrill Lynch, Pierce, Fenner & Smith were Joint Lead Arrangers and Joint Bookrunners; BNP Paribas, Citibank, Mizuho, PNC, SMBC, Société Générale, US Bank and Wells Fargo were Joint Lead Arrangers and Co-Syndication Agents; and Barclays, Credit Suisse, Deutsche, Goldman Sachs, Morgan Stanley, Regions Bank, Royal Bank of Canada, Santander Bank, Scotia Bank, SunTrust and T.D. Bank were Co-Documentation Agents; and BB&T, BBVA Compass, Fifth Third, ING and MUFG Union Bank as senior managing agents. In addition to the above financial institutions, there were six managing agents and co-lenders in the facility.

Cited as a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations, Simon’s properties spread across North America, Europe and Asia, including Genting Highlands Premium Outlets and Johor Premium Outlets (pictured) in Malaysia.

Subscribe to receive the monthly exclusive news!

Subscribe to receive the monthly exclusive news!

Join our mailing list to enjoy the latest exclusive news and updates from our team.


61 Tai Seng Avenue,
#05-01 Print Media Hub @ Paya Lebar iPark,
Singapore 534167

Reg. No: 2015080042-E

You have Successfully Subscribed!