NEW
YORK, Jan. 9, 2024 /PRNewswire/ -- Brixmor
Property Group Inc. (NYSE: BRX) ("Brixmor" or the "Company")
announced today that its operating partnership, Brixmor Operating
Partnership LP (the "Operating Partnership"), priced an offering of
$400 million aggregate principal
amount of 5.500% Senior Notes due 2034 (the "Notes"). The Notes
will be issued at 99.816% of par value with a coupon of 5.500%.
Interest on the Notes is payable semi-annually on February 15 and August
15 of each year, beginning August 15,
2024. The Notes will mature on February 15, 2034. The offering is expected to
close on January 12, 2024, subject to
the satisfaction of customary closing conditions.
The Operating Partnership intends to use the net proceeds from
this offering for general corporate purposes, including repayment
of indebtedness. Wells Fargo Securities, LLC, J.P. Morgan
Securities LLC and PNC Capital Markets LLC 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 the Company 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 by calling toll-free at 1-800-645-3751 or
emailing to wfscustomerservice@wellsfargo.com, J.P. Morgan
Securities LLC by collect at 1-212-834-4533 or PNC Capital Markets
LLC by calling toll-free at 1-855-881-0697.
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
364 retail centers comprise approximately 65 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 over 5,000 retailers
including The TJX Companies, The Kroger Co., Publix Super Markets
and Ross Stores.
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 our expectations regarding the
performance of our business, our financial results, our 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," "could," "seeks," "approximately,"
"projects," "predicts," "intends," "plans," "estimates,"
"anticipates," "targets" or the negative version of these words or
other comparable words. Such forward-looking statements are subject
to various risks and uncertainties. Accordingly, there are or will
be important factors that could cause actual outcomes or results to
differ materially from those indicated in these statements. We
believe these factors include but are not limited to those
described under the section entitled "Risk Factors" in our Form
10-K for the year ended December 31,
2022, as such factors may be updated from time to time in
our periodic filings with the Securities and Exchange Commission
(the "SEC"), which are accessible on the SEC's website at
https://www.sec.gov. These factors include (1) changes in national,
regional, and local economies, due to global events such as
international military conflicts, international trade disputes, a
foreign debt crisis, foreign currency volatility, or due to
domestic issues, such as government policies and regulations,
tariffs, energy prices, market dynamics, general economic
contractions, rising interest rates, inflation, unemployment, or
limited growth in consumer income or spending; (2) local real
estate market conditions, including an oversupply of space in, or a
reduction in demand for, properties similar to those in our
property portfolio; (3) competition from other available properties
and e-commerce; (4) disruption and/or consolidation in the retail
sector, the financial stability of our tenants, and the overall
financial condition of large retailing companies, including their
ability to pay rent and/or expense reimbursements that are due to
us; (5) in the case of percentage rents, the sales volumes of our
tenants; (6) increases in property operating expenses, including
common area expenses, utilities, insurance, and real estate taxes,
which are relatively inflexible and generally do not decrease if
revenue or occupancy decrease; (7) increases in the costs to
repair, renovate, and re-lease space; (8) earthquakes, wildfires,
tornadoes, hurricanes, damage from rising sea levels due to climate
change, other natural disasters, epidemics and/or pandemics, civil
unrest, terrorist acts, or acts of war, any of which may result in
uninsured or underinsured losses; and (9) changes in laws and
governmental regulations, including those governing usage, zoning,
the environment, and taxes. These factors should not be construed
as exhaustive and should be read in conjunction with the other
cautionary statements in our other periodic filings. The
forward-looking statements speak only as of the date of this press
release, and we expressly disclaim any obligation or undertaking to
publicly update or review any forward-looking statement, whether as
a result of new information, future developments, or otherwise,
except to the extent otherwise required by law.
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SOURCE Brixmor Property Group Inc.