Latham Advises Simon Property Group in US$1 Billion Senior Notes Offering

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$1 billion aggregate principal amount of its 4.750% Notes due 2034. The new issue of senior notes has a term of 10 years and a coupon rate of 4.750%. The offering is expected to close on September 26, 2024, 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, Chelsea Carlson, and Caroline Hughes. Advice was also provided on tax matters by Century City partner Ana O’Brien and Los Angeles partner Eric Cho, with associates Joseph Marcus and Dennis Poehland.