secwatch.observer — SEC 8-K summary
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Issuer:     MACERICH CO (MAC)
CIK:        0000912242
Form:       8-K
Filed at:   2023-09-15T23:59:59+00:00
Accession:  0001193125-23-236004
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Macerich replaces existing credit facility with $650M revolver maturing 2027, draws $152M
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- New $650M revolving loan facility matures Feb 1, 2027, with option to extend to Feb 1, 2028.
- Borrower may increase facility up to $950M subject to additional lender commitments.
- Interest margins range from 1.00% to 2.50% based on leverage; currently 1.25% base rate / 2.25% SOFR.
- Borrower drew $152M at closing to repay outstanding amounts under the prior credit agreement.
- Facility includes borrowing base covenant, financial covenants, and 0.35% per annum unused fee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912242/000119312523236004/0001193125-23-236004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912242/000119312523236004/d437561d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-236004

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