BB&T Capital Markets Serves as a Co-Manager on Simon Property Group, Inc.’s Senior Note Offering
BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the second quarter of 2017, helping to raise $1,350,000,000 for our client.
The Company intends to use the net proceeds of these offerings to fund the planned optional redemption of its 5.650% notes due 2020 and to use any additional net proceeds for general corporate purposes.
About the Companies
Simon Property Group, Inc. (“SPG” or “The Company”) is a global leader in retail real estate ownership, management and development. As of December 31, 2016, SPG owned or held an interest in 206 income‑producing properties in the United States, which consisted of 108 malls, 67 Premium Outlets, 14 Mills, four lifestyle centers, and 13 other retail properties in 37 states and Puerto Rico. In addition, the Company had redevelopment and expansion projects underway at 27 properties in the United States and has one outlet and one other significant retail project under development. Internationally, SPG had ownership interests in 16 Premium Outlets and 7 Designer Outlet properties. SPG also had four international outlet properties under development.
Our Real Estate Group is led by an experienced banking team focused on serving the broad needs of the Real Estate Investment Trust (REIT), commercial real estate and hospitality sectors. Through our extensive industry connections and in-house retail and institutional distribution capabilities, our clients gain access to the broadest markets—as well as the balance sheet strength and resources of one of the nation's strongest financial institutions.
Our corporate and investment bankers are experts in all aspects of the commercial real estate sector and provide a comprehensive suite of capital markets solutions ranging from corporate lending, equity and debt underwriting and merger and acquisition advisory. This unique teaming enables us to serve clients with financing options that are optimized for their specific needs, and each stage of their development.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.