October 22, 2009 (FinancialWire) — The Macerich Co. (NYSE: MAC) plans to offer 12 million shares of its common stock in an underwritten public offering. Deutsche Bank Securities (NYSE: DB) and J.P. Morgan Securities (NYSE: JPM) are acting as joint bookrunning managers.

The company plans to grant the underwriters a 30-day option to purchase up to 1.8 million additional shares to cover over-allotments.

Macerich plans to use the net proceeds of the offering to repay a portion of the outstanding balance under its $1.5 billion revolving line of credit.

Santa Monica, California-based Macerich is a real estate investment trust focused on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.

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