Quarterly report pursuant to Section 13 or 15(d)

Debt of the Operating Partnership (Tables)

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Debt of the Operating Partnership (Tables) (Tanger Properties Limited Partnership)
 6 Months Ended
Jun. 30, 2011
Tanger Properties Limited Partnership
  
Schedule of Debt [Table Text Block]
As of June 30, 2011 and December 31, 2010, the debt of the Operating Partnership consisted of the following (in thousands):
 
 
June 30, 2011
 
December 31,
2010
Senior, unsecured notes:
 
 

 
 

6.15% Senior notes, maturing November 2015, net of discount of $464 and $510, respectively
 
$
249,536

 
$
249,490

3.75% Senior exchangeable notes, maturing August 2026, net of discount of $20 and $103, respectively
 
7,010

 
7,107

6.125% Senior notes, maturing June 2020, net of discount of $1,902 and $1,981, respectively
 
298,098

 
298,019

Senior, unsecured bridge loan, 1.79% (1)
 
150,000

 
—

Unsecured lines of credit with a weighted average interest rates of 2.14% and 2.16%, respectively (2)
 
182,000

 
160,000

 
 
$
886,644

 
$
714,616

(1)    Our senior, unsecured bridge loan bears interest at a rate of LIBOR + 1.60% and has an initial maturity date of September 26, 2011. At our discretion we may extend the maturity to June 22, 2012 by exercising each of the three ninety-day extension options.

(2)    Our unsecured lines of credit as of June 30, 2011 bear interest at a rate of LIBOR + 1.90% and expire in November 2013. These lines require a facility fee payment of 0.40% annually based on the total amount of the commitment. The credit spread and facility fee can vary depending on our investment grade rating.
Schedule of Maturities of Long-term Debt [Table Text Block]
Maturities of the existing long-term debt as of June 30, 2011 are as follows (in thousands):
Year
Amount

2011 (1)
$
157,030

2012
—

2013
182,000

2014
—

2015
250,000

Thereafter
300,000

Subtotal
889,030

Discounts
(2,386
)
Total
$
886,644

(1) On July 18, 2011, we issued a redemption notice for the remaining 7.0 million outstanding 3.75%
senior exchangeable notes. These notes, with an original maturity of August 2026, will be redeemable on August 18, 2011. Holders of the notes will have until August 16, 2011 to exercise their exchange rights.