secwatch.observer — SEC 8-K summary
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Issuer:     TANGER PROPERTIES LTD PARTNERSHIP /NC/ (—)
CIK:        0001004036
Form:       8-K
Filed at:   2026-01-12T23:59:59+00:00
Accession:  0001628280-26-001812
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1004036/000162828026001812/0001628280-26-001812-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/899715/000162828026001812/skt-20260107.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-001812

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer