Tanger Outlets Closes on $250M 7-Year Unsecured Term Loan

Tanger Factory Outlet Centers, Inc.

today announced that its operating partnership, Tanger Properties Limited Partnership, has closed on the $250 million seven-year unsecured bank term loan announced last week. Based on Tanger's current credit ratings, the loan bears interest at LIBOR plus 180 basis points. The facility matures February 2019, and is prepayable without penalty beginning February 2015.