NEW YORK, Aug. 13, 2019 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) announced today that its operating partnership, Brixmor Operating Partnership LP (the "Operating Partnership"), priced an offering of $350 million aggregate principal amount of 4.125% Senior Notes due 2029 (the "Notes"). The Notes will be issued at 106.402% of par value with a coupon of 4.125%, plus accrued and unpaid interest from, and including, May 10, 2019 to, and excluding, the expected settlement date, with a reoffer yield of 3.333%. Interest on the Notes is payable semi-annually on May 15 and November 15 of each year, commencing November 15, 2019. The Notes will mature on May 15, 2029. The Notes constitute a further issuance of, and form a single series with, the Operating Partnership's previously issued 4.125% Senior Notes due 2029, $400 million of which are currently outstanding. The offering is expected to close on August 15, 2019, subject to the satisfaction of customary closing conditions.
The Operating Partnership intends to use the net proceeds from this offering to repay outstanding indebtedness under its unsecured credit facility, which includes its $1.25 billion unsecured revolving credit facility and its $500.0 million term loan ($300.0 million outstanding at June 30, 2019), and for general corporate purposes. Wells Fargo Securities, LLC, BMO Capital Markets Corp., Jefferies LLC and U.S. Bancorp Investments, Inc. are acting as joint book-running managers for the offering.
The Operating Partnership has filed an effective registration statement (including a prospectus supplement and accompanying base prospectus) with the Securities and Exchange Commission (the "SEC") relating to the offering to which this communication relates. Before making an investment in the Notes, potential investors should read the prospectus supplement, the accompanying prospectus and the other documents that we and the Operating Partnership have filed with the SEC for more complete information about us and the offering. Potential investors may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies may be obtained from: Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer Service, or by telephone: 1-800-645-3751; or BMO Capital Markets Corp., 3 Times Square, 25th Floor, New York, NY 10036, Attention: US Syndicate, or by telephone: 1-866-864-7760; or Jefferies LLC, 520 Madison Avenue, 3rd Floor, New York, NY 10022, Attention: High Grade Syndicate Desk , or by telephone: 1-877-877-0696; or U.S. Bancorp Investments, Inc., 214 N. Tryon St., 26th Floor, Charlotte, NC 28202, Attention: Credit Fixed Income , or by telephone: 1-877-558-2607.
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 Notes in any state or 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 jurisdiction. Any offer or sale of the Notes will be made only by means of a prospectus supplement relating to the offering of the Notes and the accompanying prospectus.
ABOUT BRIXMOR PROPERTY GROUP
Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 421 retail centers comprise approximately 73 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a proud real estate partner to approximately 5,000 retailers including The TJX Companies, The Kroger Co., Publix Super Markets, Wal-Mart, Ross Stores and L.A. Fitness.
SAFE HARBOR LANGUAGE
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company's expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "projects," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the sections entitled "Forward-Looking Statements" and "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2018, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
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SOURCE Brixmor Property Group Inc.