Tanger Inc. Raises $250 Million Through Private Placement of Exchangeable Senior Notes

Reuters
Jan 13
Tanger Inc. Raises $250 Million Through Private Placement of Exchangeable Senior Notes

Tanger Inc., through its operating partnership Tanger Properties Limited Partnership, has entered into a new financing agreement by issuing $250 million aggregate principal amount of 2.375% Exchangeable Senior Notes due 2031. The notes, issued in a private placement to qualified institutional buyers under Rule 144A, are guaranteed on a senior unsecured basis by Tanger Inc. The notes bear interest at 2.375% per year, payable semi-annually, and will mature on January 15, 2031, unless earlier exchanged, redeemed, or repurchased. The issuance was conducted under a purchase agreement with BofA Securities, Inc. as representative of the initial purchasers.

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