Simon Property Group Announces Amended and Extended $6.0 Billion Revolving Credit Facility and Term Loan

Simon, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today announced that it has amended and extended its existing $4.0 billion senior unsecured multi-currency revolving credit facility, with a $6.0 billion senior unsecured credit facility comprised of a $4.0 billion multi-currency revolving credit facility and a $2.0 billion delayed draw term loan facility. The revolving facility provides for borrowings denominated in U.S. Dollars, Euro, Yen, Sterling, Canadian Dollars and Australian Dollars.  The aggregate amount of the facilities may be increased in the form of additional revolving commitments and/or additional term loans up to $7.0 billion.  The revolving facility will mature on June 30, 2024, and the term facility will mature on June 30, 2022.  The maturity date of each facility may be extended for a period of up to one year.  Based upon our current credit ratings, the interest rate under the amended revolving facility has been reduced to LIBOR plus 70 basis points from LIBOR plus 77.5 basis points.