SIMON PROPERTY GROUP L P 8-K

What Happened

• Simon Property Group, L.P.’s indirect subsidiary, Simon Global Development B.V., issued €500,000,000 aggregate principal amount of 3.650% guaranteed notes due June 15, 2031. The offering closed on June 15, 2026 and was conducted to non‑U.S. persons outside the United States under Regulation S. The notes are unsecured and are fully and unconditionally guaranteed by Simon Property Group, L.P. Interest is 3.650% per year, payable annually beginning June 15, 2027.

Key Details

• Amount: €500,000,000 aggregate principal.
• Coupon and maturity: 3.650% per annum, due June 15, 2031; interest paid annually on June 15 (first payment June 15, 2027).
• Issuance and distribution: Offered to non‑U.S. persons in reliance on Regulation S; not registered under the U.S. Securities Act and may not be offered or sold in the U.S. or to U.S. persons absent registration or an exemption.
• Guarantee and security: Notes are unsecured but carry a full, unconditional guarantee by Simon Property Group, L.P.
• Redemption and default: Issuer may redeem (in whole or in part) with 15–60 days’ notice; redemption price is principal plus accrued interest and a “make‑whole” premium (no make‑whole if redeemed on/after May 15, 2031). Fiscal Agency Agreement sets customary events of default (nonpayment, 90‑day covenant breach, certain bankruptcy/insolvency events). Fiscal agent: The Bank of New York Mellon (London Branch).

Why It Matters

• This filing reports a significant €500M debt issuance that increases the company’s guaranteed borrowings and sets a fixed borrowing cost (3.650%) through mid‑2031. The guarantee by the Operating Partnership means holders have recourse to Simon Property Group, L.P. under the terms of the note. The notes were sold outside the U.S. under Regulation S and are not registered for U.S. resale, which affects liquidity and who can buy them. The filing does not specify use of proceeds.