Quarterly report pursuant to Section 13 or 15(d)

Debt of the Operating Partnership (Tables)

v3.19.1
Debt of the Operating Partnership (Tables) - Tanger Properties Limited Partnership [Member]
3 Months Ended
Mar. 31, 2019
Schedule of Debt
The debt of the Operating Partnership consisted of the following (in thousands):
 
 
 
 
 
 
As of
 
As of
 
 
 
 
 
 
March 31, 2019
 
December 31, 2018
 
 
Stated Interest Rate(s)
 
Maturity Date
 
Principal
 
Book Value(1)
 
Principal
 
Book Value(1)
Senior, unsecured notes:
 
 
 
 

 
 
 
 
 
 
Senior notes
 
3.875
%
 
December 2023
 
$
250,000

 
$
246,823

 
$
250,000

 
$
246,664

Senior notes
 
3.750
%
 
December 2024
 
250,000

 
247,855

 
250,000

 
247,765

Senior notes
 
3.125
%
 
September 2026
 
350,000

 
345,805

 
350,000

 
345,669

Senior notes
 
3.875
%
 
July 2027
 
300,000

 
296,662

 
300,000

 
296,565

 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgages payable:
 
 
 
 
 
 
 
 
 
 
 
 
Atlantic City (2)(3)
 
5.14%-7.65%

 
November 2021- December 2026
 
33,454

 
35,375

 
34,279

 
36,298

     Southaven
 
LIBOR + 1.80%

 
April 2021
 
51,400

 
51,197

 
51,400

 
51,173

Unsecured term loan
 
LIBOR + 0.90%

 
April 2024
 
350,000

 
346,950

 
350,000

 
346,799

Unsecured lines of credit
 
LIBOR + 0.875%

 
October 2021
 
15,000

 
12,117

 
145,100

 
141,985

 
 
 
 
 
 
$
1,599,854

 
$
1,582,784

 
$
1,730,779

 
$
1,712,918

(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%.
(3)
Principal and interest due monthly with remaining principal due at maturity.

Schedule of Maturities of Long-term Debt
Maturities of the existing long-term debt as of March 31, 2019 for the next five years and thereafter are as follows (in thousands):
Calendar Year
 
Amount

For the remainder of 2019
 
$
2,545

2020
 
3,566

2021
 
72,193

2022
 
4,436

2023
 
254,768

Thereafter
 
1,262,346

Subtotal
 
1,599,854

Net discount and debt origination costs
 
(17,070
)
Total
 
$
1,582,784