Debt Refinancing

On capital‑markets activity, SPG’s majority‑owned operating partnership completed the sale of $800 million in senior notes on September 16 2026. The offering comprised $400 million of 5.250% Notes due 2032 and $400 million of 5.650% Notes due 2036, with a weighted‑average term of 7.7 years and a weighted‑average coupon rate of 5.450%. Net proceeds will be applied to repay $750 million of 3.250% notes due 2026, with any remaining funds earmarked for general corporate purposes, including additional debt repayment. This refinancing extends SPG’s debt maturity profile and supports a stronger balance sheet.