debt
confidence high
sentiment neutral
materiality 0.50
Brixmor Property Group Inc. (BRX): debt financing — Brixmor Operating Partnership issues $400M 5.375% Senior Notes due 2036
Brixmor Property Group Inc.
- $400M aggregate principal of 5.375% Senior Notes due June 15, 2036; interest payable semi-annually.
- Net proceeds for general corporate purposes; may repay outstanding 4.125% Senior Notes due 2026.
- Notes are unsecured, unsubordinated obligations ranking equally with existing unsecured debt.
- Covenants limit incurrence of secured/unsecured debt and require unencumbered assets ≥150% of unsecured debt.
- Redemption prior to March 15, 2036 at make-whole price; thereafter at par.