India, Aug. 7 -- Friday, The Macerich Company (MAC) announced the pricing of a $675 million private offering of 2.25% exchangeable senior notes due 2031, which is higher than the previously announced offering size of $600 million.
The company has also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $100 million aggregate principal amount of notes.
The initial exchange rate is 35.4761 shares of Macerich's common stock for every $1,000 principal amount of notes. This represents an initial exchange price of approximately $28.19 per share, which is about 20% higher than Macerich's last reported share price of $23.49 on August 6, 2026.
The company expects proceeds of approximately $659.1 million fro...