Macerich issues $775M of 2.25% exchangeable notes due 2031; net proceeds ~$757M

MACERICH CO

$775M aggregate 2.25% exchangeable senior notes due 2031 issued, incl. $100M option exercise; guaranteed by Macerich on senior unsecured basis.
Net proceeds ~$757M; ~$45M used to fund capped call transactions; remainder to refinance secured debt and general corporate purposes.
Initial exchange rate 35.4761 shares per $1,000 (price ~$28.19); capped call cap price ~$34.06/share (45% premium to $23.49 close).
Entered First Amendment to Credit Agreement with Deutsche Bank AG on Aug 5, 2026 to facilitate the offering.

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