SIMON PROPERTY GROUP L P: debt financing — Simon Property Group L.P. issues €750M 3.5% exchangeable bonds due 2026 into Klépierre shares

SIMON PROPERTY GROUP L P

€750M aggregate principal, 3.50% annual interest, matures Nov 14, 2026.
Bonds exchangeable into Klépierre S.A. shares at €27.2092 (20% premium over reference price €22.6743).
Initial exchange covers ≈27.6M Klépierre shares (9.6% of outstanding).
Issuer may redeem if less than 85% of bonds remain or upon certain corporate events.
90-day lock-up on Klépierre shares for Simon and subsidiaries; bonds not registered in U.S.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SIMON PROPERTY GROUP L P incurred guarantee of €750.0 million aggregate principal amount with J.P. Morgan SE, Barclays Bank Ireland PLC, BNP Paribas, Deutsche Bank Aktiengesellschaft and Goldman Sachs Europe SE at 3.50% per annum maturing November 14, 2026.

Instrument: guarantee
Principal: €750.0 million aggregate principal amount
Counterparty: J.P. Morgan SE, Barclays Bank Ireland PLC, BNP Paribas, Deutsche Bank Aktiengesellschaft and Goldman Sachs Europe SE
Rate: 3.50% per annum
Maturity: November 14, 2026
Event: incurrence

Exact text from the filing

Global Coordinators” and, collectively with BNP Paribas, Deutsche Bank Aktiengesellschaft and Goldman Sachs Europe SE, the “Bookrunners”), in connection with the offering of €750.0 million aggregate principal amount of the Issuer’s 3.50% guaranteed exchangeable bonds due 2026 (the “Bonds”) to non-U.S. persons outside the United States in reliance on Regulation S

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SIMON PROPERTY GROUP L P entered into Subscription Agreement with J.P. Morgan SE, Barclays Bank Ireland PLC, BNP Paribas, Deutsche Bank Aktiengesellschaft and Goldman Sachs Europe SE valued at €750.0 million aggregate principal amount (effective 2023-11-07).

Action: entry
Agreement: notes offering
Counterparty: J.P. Morgan SE, Barclays Bank Ireland PLC, BNP Paribas, Deutsche Bank Aktiengesellschaft and Goldman Sachs Europe SE
Value: €750.0 million aggregate principal amount
Effective: 2023-11-07

Exact text from the filing

On November 7, 2023, Simon Property Group, L.P. (the “Operating Partnership”) and its indirect wholly-owned subsidiary Simon Global Development, B.V., a private company with limited liability ( besloten vennootschap met beperkte aansprakelijkheid ) under the laws of the Netherlands (the “Issuer”), entered into a subscription agreement (the “Subscription Agreement”) with J.P. Morgan SE, Barclays Bank Ireland PLC, BNP Paribas, Deutsche Bank Aktiengesellschaft and Goldman Sachs Europe SE

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Source: SEC EDGAR

accession 0001104659-23-118242

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