Simon Property Group Announces Concurrent Offerings of Common Stock and Senior Notes

INDIANAPOLIS, IN/PRNewswire-FirstCall/ -- Simon Property Group, Inc. (NYSE:SPG) announced that it and its majority-owned operating partnership subsidiary, Simon Property Group, L.P., intend to conduct, subject to market and other conditions, concurrent offerings of approximately 15,000,000 shares of common stock and approximately $500 million principal amount of senior notes due 2019.

The completion of either offering is not conditioned on the success of the other.

The Company expects to grant the underwriters in the common stock offering an over-allotment option to purchase 2,250,000 additional shares of common stock.

Simon intends to use the net proceeds to partially repay the outstanding balance of its $3.5 billion unsecured credit facility and for general corporate purposes.

Goldman, Sachs & Co., J.P. Morgan and Banc of America Securites LLC are serving as joint bookrunning managers of the senior note offering. The offerings are being conducted as public offerings under Simon's joint 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 relating to each offering.

When available, copies of the prospectus supplement and accompanying prospectus relating to each offering can be obtained by contacting: Goldman, Sachs & Co., Attn: Prospectus Dept., 85 Broad St., New York, NY 10004.

CONTACT: Investors: Shelly Doran, +1-317-685-7330, Media: Les Morris,+1-317-263-7711, both of Simon Property Group, Inc.