NEW
YORK, Feb. 27, 2025 /PRNewswire/ -- Brixmor
Property Group Inc. (NYSE: BRX) ("Brixmor" or the "Company")
announced today that its operating partnership, Brixmor Operating
Partnership LP (the "Operating Partnership"), priced an offering of
$400 million aggregate principal
amount of 5.200% Senior Notes due 2032 (the "Notes"). The Notes
will be issued at 99.831% of par value with a coupon of 5.200%.
Interest on the Notes is payable semi-annually on April 1 and October
1 of each year, beginning October 1,
2025. The Notes will mature on April
1, 2032. The offering is expected to close on March 4, 2025, subject to the satisfaction of
customary closing conditions.
The Operating Partnership intends to use the net proceeds from
this offering for general corporate purposes, which may include
repayment of outstanding indebtedness under its unsecured revolving
credit facility. J.P. Morgan Securities LLC, BMO Capital Markets
Corp., RBC Capital Markets, LLC and U.S. Bancorp Investments, Inc.
are acting as joint book-running managers for the offering.
The Operating Partnership has filed an effective registration
statement (including a prospectus supplement and accompanying base
prospectus) with the Securities and Exchange Commission (the "SEC")
relating to the offering to which this communication relates.
Before making an investment in the Notes, potential investors
should read the prospectus supplement, the accompanying prospectus
and the other documents that the Company and the Operating
Partnership have filed with the SEC for more complete information
about us and the offering. Potential investors may obtain these
documents for free by visiting EDGAR on the SEC website at
www.sec.gov. Alternatively, copies may be obtained from: J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY
11717 or by email at prospectus-eq_fi@jpmchase.com and
postsalemanualrequests@broadridge.com, BMO Capital Markets Corp. by
calling toll-free at 1-888-200-0266, RBC Capital Markets, LLC by
calling (866) 375-6829 or U.S. Bancorp Investments, Inc., by
telephone: 1-877-558-2607.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these Notes in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Any offer or sale of the Notes will be made
only by means of a prospectus supplement relating to the offering
of the Notes and the accompanying prospectus.
ABOUT BRIXMOR PROPERTY GROUP
Brixmor (NYSE: BRX) is a real estate investment trust (REIT)
that owns and operates a high-quality, national portfolio of
open-air shopping centers. Its 363 retail centers comprise
approximately 64 million square feet of prime retail space in
established trade areas. The Company strives to own and
operate shopping centers that reflect Brixmor's vision "to be the
center of the communities we serve" and are home to a diverse mix
of thriving national, regional and local retailers. Brixmor
is a proud real estate partner to over 5,000 retailers, including
The TJX Companies, The Kroger Co., Publix Super Markets and
Ross Stores.
Brixmor announces material information to its investors in SEC
filings and press releases and on public conference calls, webcasts
and the "Investors" page of its website at https://www.brixmor.com.
The Company also uses social media to communicate with its
investors and the public, and the information Brixmor posts on
social media may be deemed material information. Therefore, Brixmor
encourages investors and others interested in the Company to review
the information that it posts on its website and on its social
media channels.
SAFE HARBOR LANGUAGE
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, as amended.
These statements include, but are not limited to, statements
related to our expectations regarding the performance of our
business, our financial results, our liquidity and capital
resources, and other non-historical statements. You can identify
these forward-looking statements by the use of words such as
"outlook," "believes," "expects," "potential," "continues," "may,"
"will," "should," "seeks," "projects," "predicts," "intends,"
"plans," "estimates," "anticipates," or the negative version of
these words or other comparable words. Such forward-looking
statements are subject to various risks and uncertainties.
Accordingly, there are or will be important factors that could
cause actual outcomes or results to differ materially from those
indicated in these statements. We believe these factors include,
but are not limited to, those described under the sections entitled
"Forward-Looking Statements" and "Risk Factors" in our Form 10-K
for the year ended December 31, 2024,
as such factors may be updated from time to time in our periodic
filings with the SEC, which are accessible on the SEC's website at
https://www.sec.gov. These factors include (1) changes in national,
regional, and local economies, due to global events such as
international military conflicts, international trade disputes, a
foreign debt crisis, foreign currency volatility, or due to
domestic issues, such as government policies and regulations,
tariffs, energy prices, market dynamics, general economic
contractions, rising interest rates, inflation, unemployment, or
limited growth in consumer income or spending; (2) local real
estate market conditions, including an oversupply of space in, or a
reduction in demand for, properties similar to those in our
property portfolio; (3) competition from other available properties
and e-commerce; (4) disruption and/or consolidation in the retail
sector, the financial stability of our tenants, and the overall
financial condition of large retailing companies, including their
ability to pay rent and/or expense reimbursements that are due to
us; (5) in the case of percentage rents, the sales volumes of our
tenants; (6) increases in property operating expenses, including
common area expenses, utilities, insurance, and real estate taxes,
which are relatively inflexible and generally do not decrease if
revenue or occupancy decrease; (7) increases in the costs to
repair, renovate, and re-lease space; (8) earthquakes, wildfires,
tornadoes, hurricanes, damage from rising sea levels due to climate
change, other natural disasters, epidemics and/or pandemics, civil
unrest, terrorist acts, or acts of war, any of which may result in
uninsured or underinsured losses; and (9) changes in laws and
governmental regulations, including those governing usage, zoning,
the environment, privacy, data security, intellectual property
rights, and taxes. These factors should not be construed as
exhaustive and should be read in conjunction with the other
cautionary statements that are included in this press release and
in our periodic filings. The forward-looking statements speak only
as of the date of this press release, and we expressly disclaim any
obligation or undertaking to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments, or otherwise, except to the extent otherwise
required by law.
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SOURCE Brixmor Property Group Inc.
