Attached files
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EX-99.2 - EX-99.2 - SIMON PROPERTY GROUP L P /DE/ | a17-8464_1ex99d2.htm |
EX-99.1 - EX-99.1 - SIMON PROPERTY GROUP L P /DE/ | a17-8464_1ex99d1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 17, 2017
Simon Property Group, L.P.
(Exact name of registrant as specified in its charter)
Delaware |
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001-36110 |
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34-1755769 |
(State or other jurisdiction |
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(Commission |
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(IRS Employer |
of incorporation) |
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File Number) |
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Identification No.) |
225 W. Washington Street
Indianapolis, IN 46204
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code (317) 636-1600
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 Entry into a Material Definitive Agreement
On March 17, 2017, Simon Property Group, L.P. (the Company) amended and extended its $4.0 billion unsecured multi-currency revolving credit facility (the Credit Facility), as summarized in the attached press release. The Credit Facility can be increased to $5.0 billion during its term, will initially mature on June 30, 2021 and can be extended for an additional year to June 30, 2022 at the Companys sole option. The interest rate on the Credit Facility is reduced to LIBOR plus 77.5 basis points with a facility fee of 10 basis points. The Credit Facility provides for borrowings denominated in U.S. Dollars, Euro, Yen, Sterling, Canadian Dollars and Australian Dollars. Borrowings in currencies other than the U.S. Dollar are limited to 95% of the Maximum Revolving Credit Amount, as defined. The Credit Facility contains a money market competitive bid option program that allows the Company to hold auctions to achieve lower pricing for short-term borrowings.
The Credit Facility provides for borrowings for general corporate purposes.
The Credit Facility contains ongoing covenants relating to total and secured leverage to capitalization value and minimum EBITDA and unencumbered EBITDA coverage requirements. Payment under the Credit Facility can be accelerated if the Company or its general partner, Simon Property Group, Inc., is subject to bankruptcy proceedings or upon the occurrence of certain other events.
Prior to the extension and amendment, the Credit Facility had a capacity of $4.0 billion with a $3.0 billion multi-currency tranche, an initial maturity of June 30, 2018, an interest rate of LIBOR plus 80 basis points with a facility fee of 10 basis points.
A copy of a press release and the Credit Facility agreement are attached hereto as Exhibits 99.1 and 99.2, respectively, and are incorporated herein by reference and constitute part of this report.
ITEM 1.02 Termination of a Material Definitive Agreement
The disclosure required by this Item is included in 1.01 and is incorporated herein by reference.
ITEM 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant
The disclosure required by this Item is included in 1.01 and is incorporated herein by reference.
ITEM 9.01 Financial Statements and Exhibits
Financial Statements:
None
Exhibits:
Exhibit |
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Description |
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Page Number in |
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99.1 |
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Press release dated March 17, 2017 |
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4 |
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99.2 |
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Amended and Restated $4,000,000,000 Credit Agreement dated as of March 17, 2017 |
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5 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: March 20, 2017
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SIMON PROPERTY GROUP, L.P. | |
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By: |
Simon Property Group, Inc., the sole General Partner |
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By: |
/s/ Steven K. Broadwater |
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Steven K. Broadwater |
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Senior Vice President and Chief |
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Accounting Officer |