Quarterly report pursuant to Section 13 or 15(d)

Debt of the Operating Partnership (Tables)

v3.7.0.1
Debt of the Operating Partnership (Tables) - Tanger Properties Limited Partnership [Member]
3 Months Ended
Mar. 31, 2017
Schedule of Debt
The debt of the Operating Partnership consisted of the following (in thousands):
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
March 31, 2017
 
December 31, 2016
 
 
Stated Interest Rate(s)
 
Maturity Date
 
Principal
 
Book Value(1)
 
Principal
 
Book Value(1)
Senior, unsecured notes:
 
 
 
 

 
 
 
 
 
 
Senior notes
 
6.125
%
 
June 2020
 
$
300,000

 
$
298,351

 
$
300,000

 
$
298,226

Senior notes
 
3.875
%
 
December 2023
 
250,000

 
245,577

 
250,000

 
245,425

Senior notes
 
3.750
%
 
December 2024
 
250,000

 
247,145

 
250,000

 
247,058

Senior notes
 
3.125
%
 
September 2026
 
350,000

 
344,733

 
350,000

 
344,600

 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgages payable:
 
 
 
 
 
 
 
 
 
 
 
 
Atlantic City (2)
 
5.14%-7.65%

 
November 2021- December 2026
 
39,733

 
42,449

 
40,471

 
43,286

     Foxwoods
 
LIBOR + 1.55%

 
December 2017
 
70,250

 
69,993

 
70,250

 
69,902

     Southaven
 
LIBOR + 1.75%

 
April 2018
 
59,277

 
59,016

 
59,277

 
58,957

Unsecured term loan
 
LIBOR + 0.95%

 
April 2021
 
325,000

 
322,575

 
325,000

 
322,410

Unsecured lines of credit
 
LIBOR + 0.90%

 
October 2019
 
72,350

 
69,622

 
61,000

 
58,002

 
 
 
 
 
 
$
1,716,610

 
$
1,699,461

 
$
1,705,998

 
$
1,687,866

(1)
Including premiums and net of debt discount and debt origination costs.
(2)
The effective interest rate assigned during the purchase price allocation to the Atlantic City mortgages assumed during the acquisition in 2011 was 5.05%.

Schedule of Maturities of Long-term Debt
Maturities of the existing long-term debt as of March 31, 2017 for the next five years and thereafter are as follows (in thousands):
Calendar Year
 
Amount

2017
 
$
72,520

2018
 
62,460

2019
 
75,719

2020
 
303,566

2021
 
330,793

Thereafter
 
871,552

Subtotal
 
1,716,610

Net discount and debt origination costs
 
(17,149
)
Total
 
$
1,699,461