Cbl Properties Announces New $65 Million Secured Financing And Anticipated Partial Redemption Of 10% Senior Secured Notes
PRIVATEApr 26, 2022
Amount Raised
$65 Million
Round Type
Debt Financing
Chattanooga
Description
CBL Properties (NYSE: CBL) today announced that it has entered into a term sheet for a new $65.0 million non-recourse loan. CBL also announced a partial redemption of outstanding 10% Senior Secured Notes utilizing its share of net proceeds from the new financing and available cash.
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Company Information
Company
CBL Properties
Location
Chattanooga, Tennessee, United States
About
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 99 properties totaling 63.0 million square feet across 24 states, including 61 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
Information included herein contains “forward-looking statements” within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company’s various filings with the Securities and Exchange Commission, including without limitation the Company’s Annual Report on Form 10-K and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included therein, for a discussion of such risks and uncertainties.
CBL_Corp
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Chattanooga