secwatch.observer — SEC 8-K summary
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Issuer:     MACERICH CO (MAC)
CIK:        0000912242
Form:       8-K
Filed at:   2026-08-11T20:52:07+00:00
Accession:  0001193125-26-344920
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912242/000119312526344920/0001193125-26-344920-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912242/000119312526344920/d106117d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-344920

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