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$500 million aggregate principal amount of its 6.250% Notes due 2034, and US$500 million aggregate principal amount of its 6.650% Notes due 2054. Combined, the two new issues of senior notes have a weighted average term of 20.2 years and a weighted average coupon rate of 6.450%. The offering is expected to close on November 9, 2023, subject to customary closing conditions.

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. This follows Latham representing Simon® in a US$1.3 Billion offering in March 2023.