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Brixmor Property Group prices offering of senior notes

Aug. 14, 2019 1:41 AM ETBrixmor Property Group Inc. (BRX) StockBRXBy: Niloofer Shaikh, SA News Editor
  • Brixmor Operating Partnership LP, an operating partnership of Brixmor Property Group (NYSE:BRX) has priced $350M of Senior Notes due May 15, 2029 at 106.402% of par value with a coupon of 4.125%, plus accrued and unpaid interest from, and including, May 10, 2019 to, and excluding, the expected settlement date, with a reoffer yield of 3.333%.
  • Interest on the Notes is payable semi-annually on May 15 and November 15 of each year, commencing November 15, 2019.
  • The offering is expected to close on August 15.
  • The Operating Partnership intends to use the net proceeds from this offering to repay outstanding indebtedness under its unsecured credit facility, which includes its $1.25B unsecured revolving credit facility and its $500M term loan and for general corporate purposes.

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