Simon Property, based in Indianapolis,
plans to sell more than $1B in notes.

INDIANAPOLIS-Simon Property Group announced on Monday it will sell $1.25 billion of notes this month in two separate offerings, one in a public deal and one in a private placement. The public offering consists of $500 million principal amount of 2.75% senior unsecured notes, due Feb. 1, 2023. The sale is expected to close on Dec. 17.

The retail owner and developer said in a release that proceeds are expected to be used for general corporate and partnership purposes. Barclays Capital Inc., Citigroup Global Markets Inc., UBS Securities LLC, Goldman Sachs & Co., Morgan Stanley & Co. LLC and RBS Securities Inc. are joint book-running managers on the deal.  Fifth Third Securities Inc., Mitsubishi UFJ Securities (USA) Inc., SMBC Nikko Capital Markets Limited and U.S. Bancorp Investments Inc. are co-managers.

Simon Property is also expected to sell $750 million principal amount of 1.50% senior unsecured notes, due Feb. 1, 2018 in a private offering to “qualified institutional buyers” under SEC Rule 144A.  This offering is expected to close on Dec. 17. Proceeds are expected to repay part of the outstanding balance under the US dollar tranche of Simon Property’s $4 billion credit facility, which was used for acquisitions.

Representatives from Simon Property declined to comment for the story.