---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-001812"
form_type: "8-K"
ticker: null
cik: "0001004036"
company_name: "TANGER PROPERTIES LTD PARTNERSHIP /NC/"
filed_at: "2026-01-12T23:59:59+00:00"
generated_at: "2026-05-16T10:45:38.640880+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Tanger issues $250M 2.375% exchangeable notes due 2031; repays $350M senior notes

## Summary
- Issued $250M aggregate principal of 2.375% exchangeable notes due Jan 15, 2031; net proceeds ~$243M after discounts and expenses.
- Used ~$20M of net proceeds to repurchase 0.6M common shares at $33.92 per share in privately negotiated transactions.
- Plans to use proceeds with term loans to repay $350M 3.125% senior notes due Sept 2026 and outstanding credit lines.
- Notes initially exchangeable at 24.0662 shares per $1,000 principal (~$41.55/share, 22.5% premium); capped call at $47.4880 per share.
- Capped call transactions cost $9M and reduce potential dilution upon exchange.

## SEC filing metadata
- accession: 0001628280-26-001812
- form_type: 8-K
- cik: 0001004036
- company_name: TANGER PROPERTIES LTD PARTNERSHIP /NC/
- filed_at: 2026-01-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1004036/000162828026001812/0001628280-26-001812-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/899715/000162828026001812/skt-20260107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-001812
- JSON: https://secwatch.observer/filing/0001628280-26-001812.json
- Plain text: https://secwatch.observer/filing/0001628280-26-001812.txt

## Key facts
- Debt Financings
  TANGER PROPERTIES LTD PARTNERSHIP /NC/ incurred convertible notes of $250,000,000 aggregate principal amount with BofA Securities, Inc. at 2.375% per year, payable semi-annually in arrears on January 15 and July 15 maturing January 15, 2031.
  - Instrument: convertible notes
  - Principal: $250,000,000 aggregate principal amount
  - Counterparty: BofA Securities, Inc.
  - Rate: 2.375% per year, payable semi-annually in arrears on January 15 and July 15
  - Maturity: January 15, 2031
  - Event: incurrence
  source text: On January 12, 2026, Tanger Properties Limited Partnership (the “Operating Partnership”), the operating partnership of Tanger Inc. (the “Company”), issued $250 million aggregate principal amount of its 2.375% Exchangeable Senior Notes due 2031 (the “Notes”), which included $30 million principal amount of Notes purchased pursuant to the full exercise of the option granted to the Initial Purchasers (as defined below) pursuant to the Purchase Agreement (as defined below).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1004036/000162828026001812/0001628280-26-001812-index.htm
- Material Agreements
  TANGER PROPERTIES LTD PARTNERSHIP /NC/ entered into Purchase Agreement with BofA Securities, Inc. (the "Representative"), as representative of the several initial purchasers valued at $250 million (effective 2026-01-07).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: BofA Securities, Inc. (the "Representative"), as representative of the several initial purchasers
  - Value: $250 million
  - Effective: 2026-01-07
  source text: the Operating Partnership and the Company entered into a Purchase Agreement dated January 7, 2026 (the “Purchase Agreement”) with BofA Securities, Inc. (the "Representative"), as representative of the several initial purchasers named therein
  evidence_url: https://www.sec.gov/Archives/edgar/data/1004036/000162828026001812/0001628280-26-001812-index.htm
- Material Agreements
  TANGER PROPERTIES LTD PARTNERSHIP /NC/ entered into Indenture with U.S. Bank Trust Company, National Association, as trustee valued at $250 million (effective 2026-01-12).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association, as trustee
  - Value: $250 million
  - Effective: 2026-01-12
  source text: The Notes and the Guarantee were issued pursuant to an indenture, dated as of January 12, 2026 (the “Indenture”), among the Operating Partnership, the Company and U.S. Bank Trust Company, National Association, as trustee
  evidence_url: https://www.sec.gov/Archives/edgar/data/1004036/000162828026001812/0001628280-26-001812-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.