Tanger Properties calls $7.03 million 3.75% exchangeables due 2026

By Toni Weeks

San Diego, July 18 - Tanger Properties LP announced it will fully redeem its $7.03 million of 3.75% exchangeable senior notes due Aug. 15, 2026 on Aug. 18.

The notes will be redeemed at par plus accrued interest. The company expects the interest to equal $0.21 per $1,000 principal amount of notes, the announcement said.

The current exchange price for the notes is $17.832 as of July 18. Noteholders who wish to exchange their notes must surrender them by close of business on the second business day immediately preceding the redemption date and satisfy other requirements specified in the supplemental indenture for the notes.

The paying agent is U.S. Bank NA (800 934-6802).

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

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