Annual report pursuant to Section 13 and 15(d)

Debt of the Operating Partnership (Tables)

v3.3.1.900
Debt of the Operating Partnership (Tables) - Tanger Properties Limited Partnership [Member]
12 Months Ended
Dec. 31, 2015
Schedule of Debt
Debt as of December 31, 2015 and 2014 consists of the following (in thousands):
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
December 31, 2015
 
December 31, 2014
 
 
Stated Interest Rate(s)
 
Maturity Date
 
Principal
 
Premium
 (Discount)
 
Principal
 
Premium
 (Discount)
Senior, unsecured notes:
 
 
 
 
 
 

 
 
 
 
 
 

Senior notes
 
6.125
%
 
June 2020

 
$
300,000

 
$
(1,071
)
 
$
300,000

 
$
(1,276
)
Senior notes
 
3.875
%
 
December 2023

 
250,000

 
(3,378
)
 
250,000

 
(3,732
)
Senior notes
 
3.750
%
 
December 2024

 
250,000

 
(1,298
)
 
250,000

 
(1,418
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgages payable:
 
 
 
 
 
 
 
 
 
 
 
 
Atlantic City (1)
 
5.14%-7.65%

 
November 2021- December 2026

 
43,312

 
3,293

 
45,997

 
3,694

Deer Park
 
LIBOR + 1.50%

 
August 2018

 
150,000

 
(845
)
 
150,000

 
(1,161
)
Foxwoods
 
LIBOR + 1.65%

 
December 2017

 
70,250

 

 
25,235

 

Hershey (1)
 
5.17%-8.00%

 

 

 

 
29,271

 
399

Ocean City (1)
 
5.24
%
 

 

 

 
17,827

 
99

     Southaven
 
LIBOR + 1.75%

 
April 2018

 
45,824

 

 

 

Note payable (1)
 
1.50
%
 
June 2016

 
10,000

 
(81
)
 
10,000

 
(241
)
Unsecured term loan
 
LIBOR + 1.05%

 
February 2019

 
250,000

 

 
250,000

 

Unsecured term note
 
LIBOR + 1.30%

 
August 2017

 
7,500

 

 
7,500

 

Unsecured lines of credit
 
LIBOR + 0.90%

 
October 2019

 
190,300

 

 
111,000

 

 
 
 
 
 
 
$
1,567,186

 
$
(3,380
)
 
$
1,446,830

 
$
(3,636
)

(1)
The effective interest rates assigned during the purchase price allocation to these assumed mortgages and note payable during acquisitions in 2011 were as follows: Atlantic City 5.05%, Ocean City 4.68%, Hershey 3.40% and note payable 3.15%.
Schedule of Maturities of Long-term Debt
Maturities of the existing long-term debt as of December 31, 2015 for the next five years and thereafter are as follows (in thousands):
Calendar Year
 
Amount
2016
 
$
12,842

2017
 
80,758

2018
 
199,008

2019
 
443,669

2020
 
303,566

Thereafter
 
527,343

Subtotal
 
1,567,186

Net discount
 
(3,380
)
Total
 
$
1,563,806