Taubman Centers, Inc. Provides Notice of Redemption of 6.5% Series J Cumulative Redeemable Preferred Stock and of 6.25% Series K Cumulative Redeemable Preferred Stock

BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Taubman Centers, Inc. (the “Company”; NYSE: TCO) announced that, effective today, it has provided notice to redeem on January 28, 2021, (the “Redemption Date”) all of the outstanding shares of its 6.5% Series J Cumulative Redeemable Preferred Stock (the “Series J Preferred Stock”; NYSE:TCO-PR J; CUSIP No. 876664 608) and all of the outstanding shares of its 6.25% Series K Cumulative Redeemable Preferred Stock (the “Series K Preferred Stock”; NYSE:TCO-PR K; CUSIP No. 876664 707). There are 7,700,000 shares of Series J Preferred Stock outstanding with an aggregate liquidation preference of $192.5 million and 6,800,000 shares of Series K Preferred Stock outstanding with an aggregate liquidation preference of $170 million.