TANGER FACTORY OUTLET CENTERS, INC : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

Item 1.01 Entry into a Material Definitive Agreement

On July 13, 2021, Tanger Properties Limited Partnership (the "Operating
Partnership"), a majority owned subsidiary of Tanger Factory Outlet Centers,
Inc. (the "Company"), entered into a Fourth Amended and Restated Credit
Agreement by and among the Operating Partnership, the lenders party thereto, and
Bank of America, N.A., as administrative agent and L/C issuer (the "Amended and
Restated Credit Agreement"). Among other changes, the Amended and Restated
Credit Agreement extended the maturity from October 29, 2021 to July 14, 2025
(which may be extended by one additional year by exercising two six-month
extension options), decreased the aggregate principal amount of credit available
under the Amended and Restated Credit Agreement from $580 million to $500
million, and increased the amount of the accordion feature by which the
Operating Partnership may request an increase in the aggregate principal amount
of credit available from an additional $620 million to an additional $700
million. The total potential borrowings under the Amended and Restated Credit
Agreement remained unchanged at $1.2 billion. Pricing under the Amended and
Restated Credit Agreement remained the same, however the Company will be
entitled to a one basis point annual reduction in the interest rate if it meets
certain sustainability thresholds as provided in the Amended and Restated Credit
Agreement and the LIBOR interest rate floor of 0.25% that was imposed as part of
the June 2020 Modification to the Third Amended and Restated Credit Agreement
was removed. The Amended and Restated Credit Agreement also includes provisions
to accommodate a transition from the London Interbank Offered Rate ("LIBOR") to
an alternate benchmark rate upon the phase out of LIBOR as a reference rate and
made certain other immaterial changes.

Concurrently with the Amended and Restated Credit Agreement, the Operating
Partnership entered into a Fourth Amended and Restated Liquidity Credit
Agreement by and among the Operating Partnership, the lenders party thereto, and
Bank of America, N.A., as administrative agent (the "Liquidity Credit
Agreement"), which provides for a $20 million unsecured line of credit, and a
Second Amendment to Second Amended and Restated Term Loan Agreement by and among
the Operating Partnership, the lenders party thereto, Wells Fargo Bank, National
Association, as administrative agent, and the Company as guarantor (the "Term
Loan Amendment"), which provides for a $300 million term loan facility. The
Liquidity Credit Agreement and the Term Loan Amendment made certain conforming
changes from the Amended and Restated Revolving Credit Agreement, including, in
the case of the Liquidity Credit Agreement, extending the maturity to conform
with the maturity of the Amended and Restated Revolving Credit Agreement. The
maturity of the Term Loan Agreement did not change.

All three credit facilities continue to be guaranteed by the Company pursuant to separate but substantively identical guaranty agreements for each facility.

The foregoing descriptions of the amendments are qualified in their entirety by
reference to the full text of the amendments, which are filed as exhibits hereto
and incorporated herein by reference. Capitalized terms used but not defined
herein have the meanings ascribed to them in the respective amendment.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The information required by Item 2.03 is set forth in Item 1.01 above, which is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibits are included with this Report:

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Exhibit No.

        10.1                  Fourth Amended and Restated Credit Agreement, 

dated as of July 13, 2021,

                            by and among Tanger Properties Limited

Partnership, as the Borrower, Bank

                            of America, N.A., as Administrative Agent and 

L/C Issuer, and the Other

                            Lenders Party Thereto, BofA Securities, Inc., 

Wells Fargo Securities, LLC,

Truist Bank and U.S. Bank National Association, 

as Joint Bookrunners and

                            Joint Lead Arrangers, Wells Fargo Bank, 

National Association, U.S. Bank

                            National Association and Truist Securities, 

Inc. as Syndication Agents,

Regions Bank and TD Bank, N.A. as Managing 

Agents and BofA Securities, Inc.

                            as Sustainability Agent.

        10.2                  Fourth Amended and Restated Liquidity Credit 

Agreement, dated as of July

                            13, 2021, by and among Tanger Properties

Limited Partnership, as the

                            Borrower, Bank of America, N.A., as 

Administrative Agent, and the Other

                            Lenders Party Thereto.

        10.3                  Second Amendment to Second Amended and 

Restated Term Loan Agreement,

                            dated as of July 13, 2021, between Tanger 

Properties Limited Partnership,

                            as the Borrower, Tanger Factory Outlet Centers, 

Inc., as the Guarantor, and

Wells Fargo Bank, National Association, as 

Administrative Agent, and the

                            lenders party thereto.

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