NEW YORK, Jan. 16, 2014 /PRNewswire/ -- Brixmor LLC (the "Company") today announced that the cash repurchase offer for any and all series of the securities (the "Notes") listed in the table below expired at midnight, New York City time, on January 14, 2014.  In total, 55.11% of the notes aggregating $57.65 million at a weighted average interest rate of 7.43% were tendered. As a result, the Company expects annual interest savings of approximately $3.3 million.  The aggregate principal amount of each series of Notes validly tendered and not withdrawn was as set forth in the table below.  Brixmor LLC is an indirect subsidiary of Brixmor Property Group Inc. (NYSE: BRX).

The complete terms and conditions of the tender offer are described in the Put Right Repurchase Offer Notice dated December 11, 2013 (the "Repurchase Offer Notice") and the related Put Right Exercise Notice (the "Exercise Notice"). Global Bondholder Services Corporation served as information agent for the offer and U.S. Bank National Association served as depositary for the offer. Any questions concerning the offer may be directed to Global Bondholder Services Corporation at the following telephone numbers: banks and brokers, 212.430.3774; all others toll free at 866.470.3900.

The offer was made pursuant to requirements set forth in the indenture governing the Notes, which provided that holders of the Notes had the right to require the Company to repurchase such Notes from holders for cash on January 15, 2014 (the "Payment Date"). Accordingly, on the Payment Date, the Company accepted all Notes validly tendered and not withdrawn pursuant to the offer and paid a purchase price of 100% of the principal amount of such Notes, plus accrued and unpaid interest up to, but not including, the Payment Date. The Company funded the purchase of the Notes using a combination of available cash on hand and borrowings under existing credit facilities.

This press release is neither an offer to purchase nor a solicitation to buy any of the Notes, nor is it a solicitation for acceptance of the offer. The offer was made only by, and pursuant to the terms of, the Repurchase Offer Notice and the related Exercise Notice. 

Forward-Looking Statements
This press release may contain forward-looking statements.  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," "approximately," "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, including those described under the section entitled "Risk Factors" in our reports posted at http://www.brixmor.com/Investors/Bondholders/Brixmor-LLC.aspx.  Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in our website postings. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

SOURCE Brixmor Property Group Inc.