NEW YORK - Brixmor Property Group Inc. (NYSE: NYSE:BRX), a real estate investment trust (REIT), announced Monday that it has priced a $400 million offering of 5.5% Senior Notes due 2034 through its operating partnership, Brixmor Operating Partnership LP. The notes, set to mature on February 15, 2034, are to be issued at 99.816% of their par value.
Interest on these notes will be payable semi-annually, with the first payment due on August 15, 2024. The offering is expected to be finalized on January 12, 2024, pending customary closing conditions. The proceeds from this offering are intended for general corporate purposes, including the repayment of existing debt.
Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, and PNC Capital Markets LLC are serving as the joint book-running managers for the offering. Brixmor has made available a prospectus supplement and accompanying base prospectus filed with the Securities and Exchange Commission (SEC), which potential investors are encouraged to read for more comprehensive information regarding the offering.
Brixmor owns and operates a portfolio of open-air shopping centers, with 364 retail centers totaling approximately 65 million square feet of retail space. The company positions itself as a central figure in the communities it serves, hosting a variety of national, regional, and local retailers.
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