SPG Simon Property Group Inc

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)

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