| Issuer / Guarantor | Macerich Partnership LP |
|---|---|
| Size | USD 675mn |
| Type | Convertible |
| Leads | JP Morgan, Morgan Stanley |
| Maturity | 15 Aug 2031 (5 years) |
| Coupon | 2.25% (2 - 2.5%) |
| Premium | 20% (20 - 25%) |
| Calls | NC3; PC @ 130% w table MW |
| Puts | t/o @ 100% |
| Div protection | Ratio adjustment (for excess above threshold) |
| T/o protection | Make-whole table |
| CoCo | 130% to May 2031 (4.8 yrs) |
| Announced | 06 Aug 2026 |