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Latham & Watkins Represents Simon Property Group in US$1.3 Billion Senior Notes Offering

Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment, and mixed-use destinations, has announced that its majority-owned operating partnership subsidiary, Simon Property Group, L.P., has agreed to sell US$650 million aggregate principal amount of its 5.500% Notes due 2033, and US$650 million aggregate principal amount of its 5.850% Notes due 2053. Combined, the two new issues of senior notes have a weighted average term of 20 years and a weighted average coupon rate of 5.675%. The offering closed on March 8, 2023.
Latham & Watkins LLP represented Simon in the offering with a corporate team led by Los Angeles partner Julian Kleindorfer, Century City partner Lewis Kneib, Chicago partner Jonathan Sarna, and Chicago counsel Manasi Bhattacharyya, with associates Ben Winnett and Chelsea Carlson. Advice was also provided on tax matters by Century City partner Ana O’Brien, with associates Eric Song and Joseph Marcus.

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