Macerich plans USD 600 million exchangeable senior notes offering due 2031
MAC•Proposed exchangeable senior notes offering
Macerich announced a proposed private offering of USD 600 million exchangeable senior notes due 2031, with an option for USD 90 million more.
Total potential issuance would be USD 690 million. The notes would mature on Aug. 15, 2031, unless earlier repurchased, exchanged or redeemed.
Proceeds are earmarked for capped call transaction costs, refinancing existing secured debt and general corporate purposes.
The notes can be redeemed for cash starting Aug. 20, 2029 if the stock trades above 130% of the exchange price for a set period.
