Simon Property Group Shuts Shopping Centers to Limit Coronavirus Spread
March 18 2020 - 2:29PM
Dow Jones News
By Dave Sebastian
Simon Property Group Inc., the largest mall landlord in the
U.S., said it is closing all malls and outlets amid efforts to
contain the spread of the new coronavirus through March 29,
effective Wednesday at 7 p.m. local time.
"The health and safety of our shoppers, retailers and employees
is of paramount importance and we are taking this step to help
reduce the spread of COVID-19 in our communities," Chairman and
Chief Executive David Simon said.
The company on Monday said it has secured an amendment to an
existing $4 billion credit facility to $6 billion.
At the end of 2019, the company owned or held an interest in 204
income-producing properties in the U.S.
Shares fell 22.4% to $45.67 as the S&P 500's declines led to
another trading halt and wiped out all the index's gains since
President Trump took office.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
March 18, 2020 15:14 ET (19:14 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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