iCrowdNewswire Dec 30, 2020 1:05 PM ET
Brixmor Property Group Inc. announced today that its operating partnership, Brixmor Operating Partnership LP (the “Operating Partnership”), completed its previously announced redemption of $316,849,000.00 aggregate principal amount of its 3.875% Senior Notes due 2022 (CUSIP Number 11120V AB9) (the “Senior Notes”), representing all of the outstanding Senior Notes, on December 18, 2020. The Senior Notes were redeemed pursuant to their terms at 105.133% of the principal amount, plus accrued and unpaid interest up to, but excluding, December 18, 2020. The total aggregate redemption price was $337.3 million, including $4.2 million in accrued interest. The Company financed the redemption with cash on hand. In connection with the redemption, the Company will recognize a loss on extinguishment of debt of approximately $17.5 million in the fourth quarter of 2020.
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 395 retail centers comprise approximately 69 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor’s 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.
Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the “Investors” page of its website at www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.