By a News Reporter-Staff News Editor at Economics Week -- Simon Property Group, Inc. (NYSE: SPG) announced that its majority-owned operating partnership subsidiary, Simon Property Group, L.P. (the " Operating Partnership "), has agreed to sell $600 million principal amount of its 2.200% senior notes due February 1, 2019 , and $600 million principal amount of its 3.750% senior notes due February 1, 2024 . Combined, the new issues of senior notes have a weighted average duration of 7.5 years and an average coupon rate of 2.975%. This offering is expected to close on January 21, 2014 . The Operating Partnership currently expects to use the net proceeds from the public offering to repay debt and for general corporate purposes. Citigroup Global Markets Inc. , Credit Suisse Securities ( USA ) LLC, Deutsche Bank Securities Inc. , Morgan Stanley & Co. LLC, BBVA Securities Inc. , RBC Capital Markets, LLC , SunTrust Robinson Humphrey, Inc. and U.S. Bancorp Investments, Inc. are serving as joint book-running managers of the public offering which is being conducted under the 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 can be obtained by contacting: Citigroup Global Markets Inc. toll-free at 1-800-831-9146; Credit Suisse Securities ( USA ) LLC toll-free at 1-800-221-1037; Deutsche Bank Securities Inc. toll-free at 1-800-503-4611; or Morgan Stanley & Co. LLC toll-free at 1-866-718-1649. 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. Keywords for this news article include: Economics, Banking and Finance, Simon Property Group , Investment and Finance. Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC
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