The Macerich Company Announces Pricing Of $675 Mln Senior Notes Offering

Macerich (MAC) priced a $675M private offering of 2.25% exchangeable senior notes due 2031, increasing the deal size from the previously announced $600M. The update is incremental (deal sizing/terms) and is likely to be viewed as modestly supportive of funding flexibility rather than a fundamental earnings or guidance change.

Analysis

Macerich (MAC) priced a $675M private offering of 2.25% exchangeable senior notes due 2031, increasing the deal size from the previously announced $600M. The update is incremental (deal sizing/terms) and is likely to be viewed as modestly supportive of funding flexibility rather than a fundamental earnings or guidance change.