Brixmor Property Group Inc. announced that its operating partnership, Brixmor Operating Partnership LP (the “Operating Partnership”), priced an offering of $300 million aggregate principal amount of 4.050% Senior Notes due 2030 (the “Notes”). The Notes will be issued at 107.172% of par value with a coupon of 4.050%, plus accrued and unpaid interest from, and including, June 10, 2020 to, and excluding, the expected settlement date, with a reoffer yield of 3.178%. Interest on the Notes is payable semi-annually on January 1 and July 1 of each year, commencing January 1, 2021. The Notes will mature on July 1, 2030. The Notes constitute a further issuance of, and form a single series with, the Operating Partnership’s previously issued 4.050% Senior Notes due 2030, $500 million of which are currently outstanding. The offering is expected to close on August 20, 2020, subject to the satisfaction of customary closing conditions.
The Operating Partnership intends to use the net proceeds from this offering for general corporate purposes, which may include repaying outstanding indebtedness under its $1.25 billion unsecured revolving credit facility. BofA Securities, Inc., Jefferies LLC, Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc. are acting as joint book-running managers for the offering.
The Operating Partnership has filed an effective registration statement (including a prospectus supplement and accompanying base prospectus) with the Securities and Exchange Commission (the “SEC”) relating to the offering to which this communication relates. Before making an investment in the Notes, potential investors should read the prospectus supplement, the accompanying prospectus and the other documents that we and the Operating Partnership have filed with the SEC for more complete information about us and the offering. Potential investors may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies may be obtained from: BofA Securities, Inc., NC1-004-03-43 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at firstname.lastname@example.org; or Jefferies LLC, 520 Madison Avenue, 3rd Floor, New York, NY 10022, Attention: High Grade Syndicate Desk, or by telephone: 1-877-877-0696; or Scotia Capital (USA) Inc., 250 Vesey Street, New York, NY 10281, or by telephone: 1-800-372-3930; or U.S. Bancorp Investments, Inc., 214 N. Tryon St., 26th Floor, Charlotte, NC 28202, Attention: Credit Fixed Income, or by telephone: 1-877-558-2607.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these Notes in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer or sale of the Notes will be made only by means of a prospectus supplement relating to the offering of the Notes and the accompanying prospectus.
ABOUT BRIXMOR PROPERTY GROUP
Brixmor is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 398 retail centers comprise approximately 70 million square feet of prime retail space in established trade areas. Brixmor strives to own and operate shopping centers that reflect its vision “to be the center of the communities we serve” and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a proud real estate partner to approximately 5,000 retailers including The TJX Companies, The Kroger Co., Publix Super Markets, Wal-Mart, Ross Stores and L.A. Fitness.