Taubman Centers (TCO) 10-Q 2012 Q1 Quarterly report

TAUBMAN CENTERS, INC.																																					Exhibit 99
Debt Summary
As of March 31, 2012
(in millions of dollars, amounts may not add due to rounding)
		MORTGAGE AND OTHER NOTES PAYABLE (a)
		INCLUDING WEIGHTED AVERAGE INTEREST RATES AT MARCH 31, 2012
					100%			Beneficial Interest			Effective Rate			LIBOR Rate		Principal Amortization and Debt Maturities
					3/31/2012			3/31/2012			3/31/2012		(b)	Spread		2012			2013		2014		2015		2016		2017		2018		2019		2020		2021		Total
Consolidated Fixed Rate Debt:
Beverly Center					315.2			315.2			5.28	%				4.7			6.6		303.8																315.2
Cherry Creek Shopping Center			50.00	%	280.0			140.0			5.24	%													140.0												140.0
El Paseo Village					17.0		(c)	17.0			3.85	%	(c)			0.3			0.4		0.4		15.9														17.0	(j)
Great Lakes Crossing Outlets					128.4			128.4			5.25	%				2.4			126.0																		128.4
International Plaza			50.10	%	325.0			162.8			4.85	%											2.5		2.6		2.7		2.9		3.0		3.1		146.1		162.8
Northlake Mall					215.5			215.5			5.41	%													215.5												215.5
Stony Point Fashion Park					103.1			103.1			6.24	%				1.5			2.1		99.5																103.1
The Gardens on El Paseo					86.2		(d)	86.2			4.46	%	(d)			0.9			1.1		1.1		1.1		81.9												86.2	(j)
The Mall at Green Hills					110.9		(e)	110.9			4.68	%	(e)			2.6			108.3																		110.9	(j)
The Mall at Partridge Creek					81.0			81.0			6.15	%				0.7			1.1		1.1		1.2		1.3		1.4		1.4		1.5		71.2				81.0
The Mall at Short Hills					540.0			540.0			5.47	%											540.0														540.0
The Mall at Wellington Green			90.00	%	200.0			180.0			5.44	%											180.0														180.0
Total Consolidated Fixed					2,402.3			2,080.1								13.1			245.7		406.0		740.7		441.3		4.1		4.3		4.5		74.4		146.1		2,080.1
Weighted Rate					5.29	%		5.32	%							5.23	%		5.00	%	5.51	%	5.42	%	5.18	%	5.28	%	5.29	%	5.29	%	6.10	%	4.85	%
Consolidated Floating Rate Debt:
MacArthur Center			95.00	%	131.0			124.5			4.99	%	(f)			0.4			1.3		1.4		1.5		1.6		1.7		1.8		2.0		112.8				124.5
TRG $40M Revolving Credit					22.5			22.5			1.24	%	(g)	1.00	%	22.5																					22.5
TRG $650M Revolving Credit Facility:
Dolphin Mall (i)					290.0			290.0			1.99	%		1.75	%								290.0		(i)												290.0
Fairlane Town Center (i)					80.0			80.0			1.98	%		1.75	%								80.0		(i)												80.0
Twelve Oaks Mall (i)					20.0			20.0			1.96	%		1.75	%								20.0		(i)												20.0
Total Consolidated Floating					543.5			537.0								23.0			1.3		1.4		391.5		1.6		1.7		1.8		2.0		112.8				537.0
Weighted Rate					2.68	%		2.65	%							1.31	%		4.99	%	4.99	%	2.00	%	4.99	%	4.99	%	4.99	%	4.99	%	4.99	%
Total Consolidated					2,945.8			2,617.1								36.0			247.0		407.4		1,132.2		442.9		5.8		6.1		6.5		187.1		146.1		2,617.1
Weighted Rate					4.80	%		4.77	%							2.73	%		5.00	%	5.51	%	4.24	%	5.18	%	5.20	%	5.20	%	5.20	%	5.43	%	4.85	%
Joint Ventures Fixed Rate Debt:
Arizona Mills			50.00	%	171.4			85.7			5.76	%				0.8			1.2		1.3		1.4		1.4		1.5		1.6		1.7		74.7				85.7
The Mall at Millenia			50.00	%	198.6			99.3			5.46	%				1.2			98.1																		99.3
Sunvalley			50.00	%	115.6			57.8			5.67	%				57.8																					57.8
Waterside Shops			25.00	%	165.0			41.3			5.54	%													41.3												41.3
Westfarms			78.94	%	180.0			142.1			6.10	%				142.1																					142.1
Total Joint Venture Fixed					830.7			426.2								202.0			99.3		1.3		1.4		42.7		1.5		1.6		1.7		74.7				426.2
Weighted Rate					5.71	%		5.77	%							5.97	%		5.46	%	5.76	%	5.76	%	5.55	%	5.76	%	5.76	%	5.76	%	5.76	%
Joint Ventures Floating Rate Debt:
Fair Oaks			50.00	%	275.0			137.5			4.10	%	(h)								0.8		2.0		2.2		2.3		130.2								137.5
Taubman Land Associates			50.00	%	30.0			15.0			5.95	%	(f)			15.0																					15.0
Total Joint Venture Floating					305.0			152.5								15.0					0.8		2.0		2.2		2.3		130.2								152.5
Weighted Rate					4.28	%		4.28	%							5.95	%				4.10	%	4.10	%	4.10	%	4.10	%	4.10	%
Total Joint Venture					1,135.7			578.7								217.0			99.3		2.1		3.4		44.8		3.9		131.8		1.7		74.7				578.7
Weighted Rate					5.32	%		5.38	%							5.97	%		5.46	%	5.13	%	4.77	%	5.48	%	4.76	%	4.12	%	5.76	%	5.76	%
TRG Beneficial Interest Totals
Fixed Rate Debt					3,233.0			2,506.3		(c),(d),(e)						215.1			344.9		407.3		742.1		484.0		5.6		5.9		6.2		149.1		146.1		2,506.3
					5.39	%		5.40	%							5.93	%		5.14	%	5.51	%	5.42	%	5.21	%	5.41	%	5.42	%	5.42	%	5.93	%	4.85	%
Floating Rate Debt					848.5			689.5								38.0			1.3		2.2		393.5		3.8		4.0		132.0		2.0		112.8				689.5
					3.26	%		3.01	%							3.14	%		4.99	%	4.66	%	2.01	%	4.48	%	4.48	%	4.11	%	4.99	%	4.99	%
Total					4,081.5			3,195.8								253.1			346.2		409.5		1,135.6		487.7		9.6		138.0		8.2		261.9		146.1		3,195.8
					4.95	%		4.88	%	(c),(d),(e)						5.51	%		5.14	%	5.51	%	4.24	%	5.21	%	5.02	%	4.17	%	5.32	%	5.52	%	4.85	%
								Average Maturity Fixed Debt								3
								Average Maturity Total Debt								4
(a)	All debt is secured and non-recourse to TRG unless otherwise indicated.															(e)		Debt includes $3.6 million of purchase accounting premium from acquisition which reduces the stated rate on the debt of 6.89% to an effective rate of 4.68%.
(b)	Includes the impact of interest rate swaps, if any, but does not include effect of amortization of debt issuance costs, losses on settlement of derivatives used to hedge the refinancing of certain fixed rate debt or interest rate cap premiums.
																(f)		Debt is swapped to an effective rate indicated until maturity.
(c)	Debt includes $0.3 million of purchase accounting premium from acquisition which reduces the stated rate on the debt of 4.42% to an effective rate of 3.85%.															(g)		Rate floats daily at LIBOR plus spread. Letters of credit totaling $3.9 million are also outstanding on facility.
																(h)		Debt is swapped to an effective rate of 4.10% until 2.5 months prior to maturity.
(d)	Debt includes $4.7 million of purchase accounting premium from acquisition which reduces the stated rate on the debt of 6.10% to an effective rate of 4.46%.															(i)		TRG revolving credit facility of $650 million. Dolphin, Fairlane and Twelve Oaks are the direct borrowers under this facility. Debt is guaranteed by TRG. A one year extension option is available.
																(j)		Principal amortization includes amortization of purchase accounting adjustments.