Macerich Closes Amended and Restated $900 Million Revolving Credit Facility

SANTA MONICA, Calif., Feb. 26, 2026 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE: MAC) (the “Company” or “Macerich”), a leading owner, operator, and developer of major retail properties in top markets, today announced that it has closed an amended and restated $900 million revolving credit facility.

“We are pleased to close on this new facility, which enhances our liquidity, provides additional flexibility, extends the maturity term, lowers pricing, reduces unused commitment fees, and expands our lending group,” commented Dan Swanstrom, Senior Executive Vice President and Chief Financial Officer. “We appreciate our bank group’s strong support of Macerich and its Path Forward Plan.”

Macerich increased the size of the facility from $650 million to $900 million, extended the maturity from January 2027 to March 2030 (inclusive of a 12-month extension option), and lowered the current pricing grid from a spread range of 200 to 250 basis points over SOFR to 180 to 220 basis points over SOFR. Upon the achievement of certain performance thresholds, the spreads will be further reduced to a range of 135 to 165 basis points over SOFR. The revolving credit facility was undrawn at closing with an expected current borrowing rate of 190 basis points over SOFR.

About Macerich

Macerich (NYSE: MAC) is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 39 million square feet of real estate, consisting primarily of interests in 38 retail centers. Macerich is firmly dedicated to advancing environmental goals, social good and sound corporate governance.

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