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Simon Property Group Inc T.SPG


Primary Symbol: SPG Alternate Symbol(s):  SPG.PR.J

Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages premier shopping, dining, entertainment and mixed-use destinations, which consist primarily of malls, Premium Outlets, and The Mills. It owns or holds an interest in approximately 195 income-producing properties in the United States, which consists of 93 malls, 69 Premium Outlets, 14 Mills, six lifestyle centers, and 13 other retail properties in 37 states and Puerto Rico. It also holds an interest in 24 regional, super-regional, and outlet malls in the United States and Asia. In addition, it has redevelopment and expansion projects, including the addition of anchors, big box tenants and restaurants, underway at several properties in the North America, Europe and Asia. Internationally, the Company has ownership in 35 Premium Outlets and Designer Outlet properties primarily located in Asia, Europe, and Canada.


NYSE:SPG - Post by User

Comment by Ernieandberton Mar 12, 2021 11:06am
226 Views
Post# 32785129

RE:RE:RE:Convert Deal Canceled

RE:RE:RE:Convert Deal CanceledAbout $15mm on the Operating line and about $12.5mm on the Acquisiton line are available.  TL is fully drawn at $38mm.  The only debt due is this $4mm Covid Loan and it too may have just been extended with the CF extension announced this morning, but who knows?  Regardless, $4mm could easily be funded with a small little debt deal with no or little equity dilution.  $23mm convert was too big and too dilutive...although there was quick take-up at the terms they put forth which tells us that it was way too expensive financing for the company.  For Pete's sake, the company only runs leverage at 3.3x.  Why dilute the equity at that level?  
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