MACERICH CO — Form 8-K
Filed August 11, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 19/100
What the filing says
On August 11, 2026, The Macerich Partnership, L.P. (subsidiary of Macerich Co.) issued $775 million aggregate principal amount of 2.25% Exchangeable Senior Notes due August 15, 2031, guaranteed by parent The Macerich Company. Initial purchasers include J.P. Morgan, Morgan Stanley, Deutsche Bank, Goldman Sachs, BMO, TD Securities, Scotia Capital, and KeyBanc. Exchange rate: 35.4761 shares per $1,000 principal (~$28.19 exchange price). Notes exchangeable into common stock or cash/stock combination at company's election; redeemable at company option after August 20, 2029 if stock exceeds 130% of exchange price; holders may require repurchase upon fundamental change at 100% principal plus accrued interest.
Why this rating
Routine debt financing ~19% of market cap ($775M ÷ $4.1B). Exchangeable structure common for REITs. No material business change; standard capital raise disclosed via indenture.
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