Filed Pursuant to Rule 433
Free Writing Prospectus
Registration No. 333-201464-01
July 30, 2015
BRIXMOR OPERATING PARTNERSHIP LP
Pricing Term Sheet
$500,000,000 3.875% Senior Notes due 2022
This pricing term sheet supplements, and should be read in conjunction with, the preliminary prospectus supplement dated July 30, 2015 (the “Preliminary Prospectus Supplement”) of Brixmor Operating Partnership LP (“we,” “our,” or “us”) and accompanying prospectus dated January 13, 2015 and the documents incorporated and deemed to be incorporated by reference therein.
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Issuer: | | Brixmor Operating Partnership LP |
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Expected Ratings: (Moody’s / S&P / Fitch)*: | | Baa3 (Stable) / BBB- (Stable) / BBB- (Stable) |
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Security Type: | | Senior Unsecured Notes |
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Pricing Date: | | July 30, 2015 |
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Settlement Date: | | August 10, 2015 (T+7) |
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Maturity Date: | | August 15, 2022 |
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Interest Payment Dates: | | February 15 and August 15, beginning February 15, 2016 |
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Principal Amount: | | $500,000,000 |
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Public Offering Price: | | 99.223% |
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Benchmark Treasury: | | 2.125% due June 30, 2022 |
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Benchmark Price / Yield: | | 100-25/32 / 2.003% |
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Spread to Benchmark Treasury: | | + 200 basis points |
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Yield to Maturity: | | 4.003% |
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Coupon: | | 3.875% |
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Optional Redemption: | | Make-whole call at T + 30 basis points |
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CUSIP / ISIN: | | 11120V AB9 / US11120VAB99 |
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Joint Book-Running Managers: | | Deutsche Bank Securities Inc. Merrill Lynch, Pierce, Fenner & Smith Incorporated RBC Capital Markets, LLC Citigroup Global Markets Inc. Jefferies LLC J.P. Morgan Securities LLC U.S. Bancorp Investments, Inc. Wells Fargo Securities, LLC |
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Co-Managers: | | Barclays Capital Inc. BB&T Capital Markets, a division of BB&T Securities, LLC BNY Mellon Capital Markets, LLC Mitsubishi UFJ Securities (USA), Inc. Regions Securities LLC Scotia Capital (USA) Inc. SunTrust Robinson Humphrey, Inc. |
*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
Brixmor Operating Partnership has filed a registration statement (including a preliminary prospectus supplement and a prospectus) with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus supplement for this offering, the issuer’s prospectus in that registration statement and any other documents the issuer or Brixmor Property Group Inc. has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by searching the SEC online data base (EDGAR) on the SEC web site at http://www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement and prospectus if you request it by contacting Deutsche Bank by mail at Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by emailing prospectus.CPDG@db.com or by calling (800) 503-4611; by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated, by mail at Merrill Lynch, Pierce, Fenner & Smith Incorporated, Attention: Prospectus Department, 222 Broadway, New York, NY 10038 or by emailing dg.prospectus_requests@baml.com; or by contacting RBC Capital Markets, LLC, at RBC Capital Markets, LLC, Attention: Debt Capital Markets, Three World Financial Center, 200 Vesey Street, New York, New York 10281, by emailing usdebtcapitalmarkets@rbccm.com or by calling (866) 375-6829.
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