{"id":513163,"date":"2021-07-14T16:18:35","date_gmt":"2021-07-14T20:18:35","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/tanger-announces-the-amendment-extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025\/"},"modified":"2021-07-14T16:18:35","modified_gmt":"2021-07-14T20:18:35","slug":"tanger-announces-the-amendment-extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tanger-announces-the-amendment-extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025\/","title":{"rendered":"Tanger Announces the Amendment &amp; Extension of its $520 Million Unsecured Lines of Credit to July 2025"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">GREENSBORO, N.C.<\/span>, <span class=\"xn-chron\">July 14, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Tanger Factory Outlet Centers, Inc. (NYSE:SKT), a leading operator of upscale open-air outlet centers, today announced that its operating partnership, Tanger Properties Limited Partnership, has amended and extended its unsecured lines of credit. <\/p>\n<p>Key elements of the amendments are as follows:<\/p>\n<ul type=\"disc\">\n<li>Maturity extended by nearly four years from <span class=\"xn-chron\">October 2021<\/span> to <span class=\"xn-chron\">July 2025<\/span>, and may be extended by one additional year by exercising two six-month extension options <\/li>\n<li>Borrowing capacity of <span class=\"xn-money\">$520 million<\/span>, with accordion feature to increase total borrowing capacity to <span class=\"xn-money\">$1.22 billion<\/span>, subject to lender approval <\/li>\n<li>All financial covenant thresholds were maintained <\/li>\n<li>Ratings-based pricing grid was maintained <\/li>\n<li>Incorporated a sustainability metric, reducing the applicable grid-based interest rate spread by one basis point annually, subject to the percentage of LEED\u00ae or ENERGY STAR\u00ae certified square footage improving by certain minimum thresholds <\/li>\n<\/ul>\n<p>BofA Securities, Inc.; Wells Fargo Securities, LLC; U.S. Bank National Association; and Truist Securities, Inc. served as joint bookrunners and joint lead arrangers, with Wells Fargo Bank, National Association; U.S. Bank National Association; and Truist Securities, Inc. serving as syndication agents. Regions Bank and TD Bank, N.A. served as managing agents and BofA Securities served as sustainability agent. The Bank of <span class=\"xn-location\">Nova Scotia<\/span> was also a Lender in the facility.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1185\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/324232\/tanger_factory_outlet_centers__inc__logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/324232\/tanger_factory_outlet_centers__inc__logo.jpg\" title=\"Tanger Outlets. (PRNewsFoto\/Tanger Factory Outlet Centers, Inc.)\" alt=\"Tanger Outlets. (PRNewsFoto\/Tanger Factory Outlet Centers, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>About Tanger Factory Outlet Centers, Inc. <\/b>\n      <\/p>\n<p>Tanger Factory Outlet Centers, Inc. (NYSE: SKT) is a leading operator of upscale open-air outlet centers that owns, or has an ownership interest in, a portfolio of 36 centers. Tanger&#8217;s operating properties are located in 20 states and in <span class=\"xn-location\">Canada<\/span>, totaling approximately 13.6 million square feet, leased to over 2,500 stores operated by more than 500 different brand name companies. The Company has more than 40 years of experience in the outlet industry and is a publicly-traded REIT. For more information on Tanger Outlet Centers, call 1-800-4TANGER or visit the Company&#8217;s website at\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3227469-1&amp;h=1065676503&amp;u=http%3A%2F%2Fwww.tangeroutlets.com%2F&amp;a=www.tangeroutlets.com\" rel=\"nofollow noopener\">www.tangeroutlets.com<\/a>.<\/p>\n<div>\n<table id=\"convertedTablea62c\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnsbt0 prnsbr0 prnbcc prnsbb0 prnsbl0\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Investor Contact Information<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cyndi Holt\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Jim Williams<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">SVP, Finance &amp; Investor Relations\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EVP, CFO &amp; Treasurer<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">336-834-6892\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">336-834-6800<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <a target=\"_blank\" href=\"mailto:cyndi.holt@tangeroutlets.com\" class=\"prnews_a\" rel=\"nofollow noopener\">cyndi.holt@tangeroutlets.com<\/a>\u00a0\u00a0\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <a target=\"_blank\" href=\"mailto:jim.williams@tangeroutlets.com\" class=\"prnews_a\" rel=\"nofollow noopener\">jim.williams@tangeroutlets.com<\/a><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Media Contact Information<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <a target=\"_blank\" href=\"mailto:CorporateCommunications@tangeroutlets.com\" class=\"prnews_a\" rel=\"nofollow noopener\">CorporateCommunications@tangeroutlets.com<\/a>\u00a0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder0\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CL42655&amp;sd=2021-07-14\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/tanger-announces-the-amendment--extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025-301334070.html\">https:\/\/www.prnewswire.com\/news-releases\/tanger-announces-the-amendment&#8211;extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025-301334070.html<\/a><\/p>\n<p>SOURCE  Tanger Factory Outlet Centers, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CL42655&amp;Transmission_Id=202107141615PR_NEWS_USPR_____CL42655&amp;DateId=20210714\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire GREENSBORO, N.C., July 14, 2021 \/PRNewswire\/ &#8212;\u00a0Tanger Factory Outlet Centers, Inc. (NYSE:SKT), a leading operator of upscale open-air outlet centers, today announced that its operating partnership, Tanger Properties Limited Partnership, has amended and extended its unsecured lines of credit. Key elements of the amendments are as follows: Maturity extended by nearly four years from October 2021 to July 2025, and may be extended by one additional year by exercising two six-month extension options Borrowing capacity of $520 million, with accordion feature to increase total borrowing capacity to $1.22 billion, subject to lender approval All financial covenant thresholds were maintained Ratings-based pricing grid was maintained Incorporated a sustainability metric, reducing the applicable grid-based interest rate spread by one basis &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tanger-announces-the-amendment-extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Tanger Announces the Amendment &amp; Extension of its $520 Million Unsecured Lines of Credit to July 2025&#8221;<\/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-513163","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tanger Announces the Amendment &amp; Extension of its $520 Million Unsecured Lines of Credit to July 2025 - 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\/tanger-announces-the-amendment-extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tanger Announces the Amendment &amp; Extension of its $520 Million Unsecured Lines of Credit to July 2025 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire GREENSBORO, N.C., July 14, 2021 \/PRNewswire\/ &#8212;\u00a0Tanger Factory Outlet Centers, Inc. (NYSE:SKT), a leading operator of upscale open-air outlet centers, today announced that its operating partnership, Tanger Properties Limited Partnership, has amended and extended its unsecured lines of credit. Key elements of the amendments are as follows: Maturity extended by nearly four years from October 2021 to July 2025, and may be extended by one additional year by exercising two six-month extension options Borrowing capacity of $520 million, with accordion feature to increase total borrowing capacity to $1.22 billion, subject to lender approval All financial covenant thresholds were maintained Ratings-based pricing grid was maintained Incorporated a sustainability metric, reducing the applicable grid-based interest rate spread by one basis &hellip; Continue reading &quot;Tanger Announces the Amendment &amp; Extension of its $520 Million Unsecured Lines of Credit to July 2025&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/tanger-announces-the-amendment-extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-14T20:18:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/324232\/tanger_factory_outlet_centers__inc__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\\\/tanger-announces-the-amendment-extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tanger-announces-the-amendment-extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Tanger Announces the Amendment &amp; 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Extension of its $520 Million Unsecured Lines of Credit to July 2025 - 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\/tanger-announces-the-amendment-extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025\/","og_locale":"en_US","og_type":"article","og_title":"Tanger Announces the Amendment &amp; Extension of its $520 Million Unsecured Lines of Credit to July 2025 - Market Newsdesk","og_description":"PR Newswire GREENSBORO, N.C., July 14, 2021 \/PRNewswire\/ &#8212;\u00a0Tanger Factory Outlet Centers, Inc. (NYSE:SKT), a leading operator of upscale open-air outlet centers, today announced that its operating partnership, Tanger Properties Limited Partnership, has amended and extended its unsecured lines of credit. Key elements of the amendments are as follows: Maturity extended by nearly four years from October 2021 to July 2025, and may be extended by one additional year by exercising two six-month extension options Borrowing capacity of $520 million, with accordion feature to increase total borrowing capacity to $1.22 billion, subject to lender approval All financial covenant thresholds were maintained Ratings-based pricing grid was maintained Incorporated a sustainability metric, reducing the applicable grid-based interest rate spread by one basis &hellip; Continue reading \"Tanger Announces the Amendment &amp; Extension of its $520 Million Unsecured Lines of Credit to July 2025\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/tanger-announces-the-amendment-extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-14T20:18:35+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/324232\/tanger_factory_outlet_centers__inc__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\/tanger-announces-the-amendment-extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tanger-announces-the-amendment-extension-of-its-520-million-unsecured-lines-of-credit-to-july-2025\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Tanger Announces the Amendment &amp; 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