Loan & DebtMay 5, 2026, 04:32 PM
Brixmor Operating Partnership Issues $400M 5.375% Senior Notes
AI Summary
Brixmor Operating Partnership LP, an indirect subsidiary of Brixmor Property Group Inc., completed an offering of $400,000,000 aggregate principal amount of 5.375% Senior Notes due 2036. The notes were issued on May 5, 2026, with interest payable semi-annually starting December 15, 2026. The Operating Partnership intends to use the net proceeds for general corporate purposes, including the repayment of outstanding indebtedness.
Key Highlights
- Brixmor Operating Partnership completed an offering of $400,000,000 aggregate principal amount of Senior Notes.
- The notes bear an interest rate of 5.375% per annum.
- The Senior Notes will mature on June 15, 2036.
- Interest on the notes is payable semi-annually, commencing December 15, 2026.
- Net proceeds will be used for general corporate purposes, including repayment of indebtedness.
- The notes are unsecured and unsubordinated obligations of the Operating Partnership.
- Covenants require maintaining total unencumbered assets of at least 150% of total unsecured indebtedness.