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Actionable news in SKT: TANGER FACTORY OUTLET CENTERS,

Entry into a Material Definitive

On April 13, 2016, Tanger Properties Limited Partnership (the Operating Partnership), a majority owned subsidiary of Tanger Factory Outlet Centers, Inc. (the Company), closed on a First Amendment to Amended and Restated Term Loan Agreement (the First Amendment) between the Operating Partnership, the Company, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto. The First Amendment amends the Amended and Restated Term Loan Agreement, dated as of October 29, 2015, among the Operating Partnership, Wells Fargo Bank, National Association as administrative agent, and the lenders party thereto. The First Amendment, among other things, increased the size of the unsecured term loan from $250 million to $325 million, extended the maturity date from Feb ruary 23, 2019 to April 13, 2021, reduced the applicable LIBOR margin from LIBOR plus 105 basis points to LIBOR plus 95 basis points, and increased the incremental loan availability through an accordion feature from $150 million to $175 million. The additional loan proceeds of $75 million were used to pay down...


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