Tanger announced results for exchangeable notes offer

Greensboro, N.C. Tanger Factory Outlet Centers said that it plans to exchange common company shares for all outstanding exchangeable senior notes of Tanger Properties Limited Partnership.

On Thursday, more than $142 million in aggregate principal of the notes was validly tendered, but not withdrawn in the exchange offer. This amount represents more than 95% of the $149.5 million aggregate principal of notes outstanding prior to the exchange offer. Following settlement of the exchange offer, approximately $7 million of the principal amount will remain outstanding.

Goldman, Sachs & Co. acted as lead dealer manager, Merrill Lynch & Co. was co-dealer manager. Global Bondholder Services Corp. acted as information agent and U.S. Bank N.A. was exchange agent for the transaction.