MACERICH CO (MAC): debt financing — Macerich closes $900M revolving credit facility, up from $650M, maturing 2029

MACERICH CO

Aggregate $900M revolver, up from $650M; matures March 1, 2029, with option to extend to 2030.
Borrower can increase facility to $1.1B subject to lender commitments.
Interest margin ranges from 0.80%-2.20% initially, later 0.35%-1.65% based on net debt/EBITDA.
Covenants include borrowing base maintenance, minimum debt yield, fixed charge coverage, max floating rate debt.
Guaranteed by Macerich Company and subsidiaries; secured by mortgages and pledges of equity interests.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

MACERICH CO incurred revolving credit of $900 million with Deutsche Bank AG New York Branch (as administrative agent, collateral agent), various lenders at Base Rate or Term SOFR plus applicable margin (current: Base Rate loans 0.90% pe maturing March 1, 2029.

Instrument: revolving credit
Principal: $900 million
Counterparty: Deutsche Bank AG New York Branch (as administrative agent, collateral agent), various lenders
Rate: Base Rate or Term SOFR plus applicable margin (current: Base Rate loans 0.90% pe
Maturity: March 1, 2029
Event: incurrence

Exact text from the filing

guarantors, Deutsche Bank AG New York Branch, as administrative agent and collateral agent and the lenders party thereto. The Credit Agreement provides for an aggregate $900 million revolving loan facility that matures on March 1, 2029, with an option for the Borrower to extend maturity until March 1, 2030. The Borrower has the ability from time to time to

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Source: SEC EDGAR

accession 0001193125-26-077466

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