The latest update is out from Tanger Factory (SKT).
Tanger Properties Limited Partnership, a subsidiary of Tanger Inc., has enhanced its financial flexibility by amending its Revolving Credit Agreement, increasing its borrowing limit from $500 million to $600 million, with the potential to reach $1.2 billion. The maturity date is now extended to April 12, 2028, with an option for a further year, and borrowing costs have been reduced. This move, coupled with an unchanged $20 million Liquidity Credit Agreement, boosts their total available borrowing capacity to $620 million and is part of a strategic effort to strengthen the company’s financial standing.
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