Simon Property Group Announces Proposed Offerings Of Common Stock And Senior Notes

INDIANAPOLIS, March 8, 2012 /PRNewswire/ -- Simon Property Group, Inc. (NYSE: SPG) announced today that it intends to conduct, subject to market and other conditions, an offering of 7,000,000 shares of common stock.  The Company expects to grant the underwriters an overallotment option to purchase 1,050,000 additional shares of common stock.

Additionally, the Company announced today that its majority-owned operating partnership subsidiary, Simon Property Group, L.P. (the "Operating Partnership"), intends, subject to market and other conditions, to offer three new series of senior unsecured notes with maturity dates of five and one-half, ten and thirty years in the aggregate principal amount of $1.5 billion.

The Company intends to use the net proceeds of the offerings to fund (or repay borrowings used prior to the closing of the offerings to fund) two recently announced transactions: the purchase of a 28.7% equity interest in Klepierre, a publicly-traded French REIT, from BNP Paribas; and the purchase of additional interests in 26 properties in the Mills portfolio from Farallon Capital Management, L.L.C. and for general corporate and partnership purposes.

J.P. Morgan, BofA Merrill Lynch and Goldman, Sachs & Co. are serving as joint book-running managers of the common stock offering.  J.P. Morgan, RBS and UBS Investment Bank are serving as joint book-running managers of the senior notes offering.  Both offerings are being conducted as public offerings under the Company's and Operating Partnership's shelf registration statement filed with the Securities and Exchange Commission.  Any offer of securities will be made by means of the prospectus supplement and accompanying prospectus. 

When available, copies of the prospectus supplement and accompanying prospectus for the common stock offering can be obtained by contacting: J.P. Morgan, Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: [phone]; BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department or email [e-mail]; or Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: [phone], facsimile: 212-902-9316 or by emailing [e-mail].

When available, copies of the prospectus supplement and accompanying prospectus for the senior notes offering can be obtained by contacting: J.P. Morgan, 383 Madison Avenue, New York, NY 10179, telephone: [phone]; RBS, Washington Boulevard, Stamford, CT 06901, telephone: [phone]; or UBS Investment Bank, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Specialist, telephone: [phone], ext. 561 3884.

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 securities in any state or other 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 other jurisdiction.

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