Macerich Announces Pricing of Upsized Offering of $675 Million Exchangeable Senior Notes due 2031
Macerich priced an upsized $675 million offering of 2.25% exchangeable senior notes due 2031, increasing the size from a previously announced $600 million. The notes are exchangeable into common stock at a 20% premium to the last close, with a 45% cap on dilution via call transactions.
Key figures
- Deal Value Usd
- 675000000
- Cap price
- 34.06
- Cap premium
- 45%
- Interest rate
- 2.25%
- Exchange price
- 28.19
- Exchange premium
- 20%
- Net proceeds base
- 659100000
- Net proceeds full option
- 757000000
AI analysis
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