Tanger to repay $62 million mortgage loan, lines of credit via notes

By Tali Rackner

Norfolk, Va., Aug. 1– Tanger Factory Outlet Centers, Inc. plans to repay a $62 million floating-rate mortgage loan related to its outlet center in Glendale, Ariz., and repay borrowings under its unsecured lines of credit with the net proceeds from a new senior note offering, according to a press release.

Proceeds from the 10-year notes will also be used for general corporate purposes.

The outlet center real estate investment trust is based in Greensboro, N.C.

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