Tanger, a real estate investment trust, revealed plans for a private placement offering of $200 million Exchangeable Senior Notes maturing in 2031.
The issuance includes a full and unconditional guarantee by the Company on a senior unsecured basis.
The intended use of the offering's proceeds encompasses capped call transactions and general corporate needs.
Offering Details
Tanger offers $200 million Exchangeable Senior Notes due 2031, targeting qualified institutional buyers.
Guarantee
Tanger ensures the Notes with a senior unsecured guarantee.
Use of Proceeds
The funding will support capped call transactions, debt settlements, and general corporate applications.
- The private placement equips Tanger with additional resources for strategic endeavors and debt management endeavors.
- Tanger's choice to introduce Exchangeable Senior Notes showcases the Company's confidence in its enduring financial resilience.
Tanger's private placement of Exchangeable Senior Notes signifies a calculated effort to enhance its financial framework and pursue growth avenues in the market.