{"id":476506,"date":"2021-04-14T17:03:25","date_gmt":"2021-04-14T21:03:25","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/"},"modified":"2021-04-14T17:03:25","modified_gmt":"2021-04-14T21:03:25","slug":"macerich-renews-corporate-credit-facility","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/","title":{"rendered":"Macerich Renews Corporate Credit Facility"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n SANTA MONICA, Calif.<\/span>, April 14, 2021<\/span> \/PRNewswire\/ — Today, the Macerich Company (NYSE: MAC, the “Company”) closed on the renewal of its corporate credit facility. The $700 million<\/span> facility includes both a revolving line of credit totaling $525 million<\/span> and a term loan totaling $175 million<\/span>. The revolver has a two-year initial term plus a one-year extension option and the term loan has a three-year term. At closing, the floating interest rate will be LIBOR + 2.75%, and $495 million<\/span> will be drawn on the facility. The revolver may be expanded up to $800.0 million<\/span> at any time during the term, subject to certain conditions. The facility includes security in the form of mortgages on certain previously unencumbered wholly-owned assets and pledges of the Company’s equity interests in certain other assets. <\/p>\n

\n

\n
\n \"Macerich
\n <\/a>\n <\/p>\n<\/p><\/div>\n

At closing, the Company repaid nearly $1 billion<\/span> of debt. “We are very pleased to have finalized this credit facility, which provides an important capital foundation to the Company for the next three years,” said Tom O’Hern<\/span>, Chief Executive Officer of Macerich. “We are committed to reducing leverage over time, and we consider the significant repayment of debt at closing of this facility to be an important step in that regard.” \u00a0\u00a0\u00a0<\/p>\n

\n
\n About Macerich<\/u>
\n <\/b>
\n :<\/b>\n <\/p>\n

The Company recently posted a new investor presentation to its website at\u00a0www.Macerich.com<\/a>.<\/p>\n

Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development, and redevelopment of regional malls throughout the United States<\/span>. <\/p>\n

Macerich\u00a0currently owns 50 million square feet of real estate consisting primarily of interests in 46 regional shopping centers.\u00a0Macerich\u00a0specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence on the\u00a0West Coast,\u00a0Arizona\u00a0and the Metro New York to\u00a0Washington, DC\u00a0corridor.\u00a0 A recognized leader in sustainability,\u00a0Macerich\u00a0has achieved the #1 GRESB ranking in the North American Retail Sector for six straight years (2015 \u2013 2020). Additional information about\u00a0Macerich\u00a0can be obtained from the Company’s website at\u00a0www.Macerich.com<\/a>.<\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/macerich-renews-corporate-credit-facility-301269152.html<\/a><\/p>\n

SOURCE Macerich Company<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire SANTA MONICA, Calif., April 14, 2021 \/PRNewswire\/ — Today, the Macerich Company (NYSE: MAC, the “Company”) closed on the renewal of its corporate credit facility. The $700 million facility includes both a revolving line of credit totaling $525 million and a term loan totaling $175 million. The revolver has a two-year initial term plus a one-year extension option and the term loan has a three-year term. At closing, the floating interest rate will be LIBOR + 2.75%, and $495 million will be drawn on the facility. The revolver may be expanded up to $800.0 million at any time during the term, subject to certain conditions. The facility includes security in the form of mortgages on certain previously unencumbered … <\/p>\n

Continue reading “Macerich Renews Corporate Credit Facility”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-476506","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMacerich Renews Corporate Credit Facility - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macerich Renews Corporate Credit Facility - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire SANTA MONICA, Calif., April 14, 2021 \/PRNewswire\/ — Today, the Macerich Company (NYSE: MAC, the “Company”) closed on the renewal of its corporate credit facility. The $700 million facility includes both a revolving line of credit totaling $525 million and a term loan totaling $175 million. The revolver has a two-year initial term plus a one-year extension option and the term loan has a three-year term. At closing, the floating interest rate will be LIBOR + 2.75%, and $495 million will be drawn on the facility. The revolver may be expanded up to $800.0 million at any time during the term, subject to certain conditions. The facility includes security in the form of mortgages on certain previously unencumbered … Continue reading "Macerich Renews Corporate Credit Facility"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-14T21:03:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/224278\/macerich_logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/macerich-renews-corporate-credit-facility\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/macerich-renews-corporate-credit-facility\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Macerich Renews Corporate Credit Facility\",\"datePublished\":\"2021-04-14T21:03:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/macerich-renews-corporate-credit-facility\\\/\"},\"wordCount\":347,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/macerich-renews-corporate-credit-facility\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/224278\\\/macerich_logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/macerich-renews-corporate-credit-facility\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/macerich-renews-corporate-credit-facility\\\/\",\"name\":\"Macerich Renews Corporate Credit Facility - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/macerich-renews-corporate-credit-facility\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/macerich-renews-corporate-credit-facility\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/224278\\\/macerich_logo.jpg\",\"datePublished\":\"2021-04-14T21:03:25+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/macerich-renews-corporate-credit-facility\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/macerich-renews-corporate-credit-facility\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/macerich-renews-corporate-credit-facility\\\/#primaryimage\",\"url\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/224278\\\/macerich_logo.jpg\",\"contentUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/224278\\\/macerich_logo.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/macerich-renews-corporate-credit-facility\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Macerich Renews Corporate Credit Facility\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Macerich Renews Corporate Credit Facility - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/","og_locale":"en_US","og_type":"article","og_title":"Macerich Renews Corporate Credit Facility - Market Newsdesk","og_description":"PR Newswire SANTA MONICA, Calif., April 14, 2021 \/PRNewswire\/ — Today, the Macerich Company (NYSE: MAC, the “Company”) closed on the renewal of its corporate credit facility. The $700 million facility includes both a revolving line of credit totaling $525 million and a term loan totaling $175 million. The revolver has a two-year initial term plus a one-year extension option and the term loan has a three-year term. At closing, the floating interest rate will be LIBOR + 2.75%, and $495 million will be drawn on the facility. The revolver may be expanded up to $800.0 million at any time during the term, subject to certain conditions. The facility includes security in the form of mortgages on certain previously unencumbered … Continue reading \"Macerich Renews Corporate Credit Facility\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-14T21:03:25+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/224278\/macerich_logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Macerich Renews Corporate Credit Facility","datePublished":"2021-04-14T21:03:25+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/"},"wordCount":347,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/224278\/macerich_logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/","name":"Macerich Renews Corporate Credit Facility - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/224278\/macerich_logo.jpg","datePublished":"2021-04-14T21:03:25+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/#primaryimage","url":"https:\/\/mma.prnewswire.com\/media\/224278\/macerich_logo.jpg","contentUrl":"https:\/\/mma.prnewswire.com\/media\/224278\/macerich_logo.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/macerich-renews-corporate-credit-facility\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Macerich Renews Corporate Credit Facility"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/476506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=476506"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/476506\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=476506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=476506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=476506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}