Subsequent Events |
9 Months Ended |
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Sep. 30, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events |
Subsequent Events
In October 2016, the Company's Board of Directors declared a $0.325 cash dividend per common share payable on November 15, 2016 to each shareholder of record on October 31, 2016, and the Trustees of Tanger GP Trust declared a $0.325 cash distribution per Operating Partnership unit to the Operating Partnership's unitholders.
In October 2016, we completed a public offering to sell an additional $100.0 million of our 3.125% senior notes due 2026 in an underwritten public offering. The notes priced at 98.962% of the principal amount to yield 3.248% to maturity. The new notes constitute an additional issuance of, and form a single series with, the $250.0 million aggregate principal amount of 3.125% senior notes due 2026 issued on August 8, 2016. The aggregate principal amount outstanding of the 3.125% senior notes due 2026 is $350.0 million. All outstanding notes pay interest semi-annually at a rate of 3.125% per annum and mature on September 1, 2026. The net proceeds from this offering, after deducting the underwriting discount and offering expenses, were approximately $97.8 million. The net proceeds were used to repay borrowings under the Operating Partnership's unsecured lines of credit, and for general corporate purposes.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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