SIMON PROPERTY GROUP L P 8-K

What Happened

• Simon Property Group L.P. (the Operating Partnership) announced in an 8-K filed January 15, 2026 that it entered an underwriting agreement on January 6, 2026 and issued $800,000,000 aggregate principal amount of 4.300% notes due January 15, 2031. The notes were issued on January 13, 2026 under the company’s Indenture (forty‑eighth supplemental indenture) with The Bank of New York Mellon Trust Company, N.A. as trustee. The underwriters included BofA Securities, Deutsche Bank Securities, Goldman Sachs & Co. and RBC Capital Markets.

Key Details

• Amount: $800,000,000 principal.
• Coupon and maturity: 4.300% interest, maturing January 15, 2031; interest paid semi‑annually on Jan 15 and Jul 15 beginning July 15, 2026.
• Redemption: Notes callable at the issuer’s option with 10–60 days’ notice; redemption price = principal + accrued interest + a make‑whole premium (no make‑whole if redeemed on/after Dec 15, 2030).
• Other terms: Standard events of default (nonpayment, covenant breach after 90 days’ notice, bankruptcy); Operating Partnership agreed to customary indemnities for the underwriters. The filing does not state the use of proceeds.

Why It Matters

• This transaction raises $800M of medium‑term debt for the Simon Property operating partnership at a fixed 4.30% rate, adding to the company’s debt and locking in interest costs through 2031. For investors, the issuance affects the company’s capital structure and future interest expense profile but does not by itself disclose how the funds will be used. The notes’ callable feature and standard default provisions are typical; consult the filed indenture and underwriting agreement (exhibits) for full legal terms.