# MACERICH CO (MAC) — capital_raise/public_offering [completed]
Source: SEC API (secapi.ai) · situation sit_199f5c78936e9992d078 · retrieved 2026-08-14T01:43:44.423Z

## Overview
The Macerich Company is a real estate investment trust (REIT) that owns and operates shopping centers and mixed-use properties.

The Macerich Partnership, L.P. (operating partnership of The Macerich Company) completed the issuance and sale of $775,000,000 aggregate principal amount of 2.25% Exchangeable Senior Notes due August 15, 2031, on August 11, 2026. The initial purchasers fully exercised their option to purchase an additional $100,000,000 aggregate principal amount of Notes, bringing the total issuance to $875,000,000. The Notes are senior, unsecured obligations of the Partnership, fully and unconditionally guaranteed by the Company. The Notes accrue interest at 2.25% per annum, payable semi-annually on February 15 and August 15, beginning February 15, 2027. The initial exchange rate is 35.4761 shares of common stock per $1,000 principal amount of Notes, representing an initial exchange price of approximately $28.19 per share. Net proceeds of approximately $757.0 million were used to pay $45.0 million for capped call transactions and the remainder for refinancing existing secured debt and general corporate purposes.

## Terms
- Counterparty: J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as representatives of the initial purchasers · Consideration: mixed · Price/share: $28.19

## Key dates
- Expiry 2031-08-15 · Completed 2026-08-11

## Timeline
- 2026-08-11 · 8-K (0001193125-26-344920): 8-K - MACERICH CO — *The Macerich Company is a real estate investment trust (REIT) that owns and operates shopping centers and mixed-use properties.* The Macerich Partnership, L.P. (operating partnership of The Macerich Company) completed the issuance and sale of $775,000,000 aggregate principal amount of 2.25% Exchangeable Senior Notes due August 15, 2031, on August 11, 2026. The initial purchasers fully exercised their option to purchase an additional $100,000,000 aggregate principal amount of Notes, bringing the total issuance to $875,000,000. The Notes are senior, unsecured obligations of the Partnership, fully and unconditionally guaranteed by the Company. The Notes accrue interest at 2.25% per annum, payable semi-annually on February 15 and August 15, beginning February 15, 2027. The initial exchange rate is 35.4761 shares of common stock per $1,000 principal amount of Notes, representing an initial exchange price of approximately $28.19 per share. Net proceeds of approximately $757.0 million were used to pay $45.0 million for capped call transactions and the remainder for refinancing existing secured debt and general corporate purposes.
  https://www.sec.gov/Archives/edgar/data/912242/0001193125-26-344920.txt

## Citations
- 0001193125-26-344920 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526344920