|
CBL & Associates Properties, Inc.
Ticker Symbol: CBL CUSIP: 124830878 Previous CUSIP: 124830100 Exchange: NYSE
Company's Online Profile
BUSINESS: CBL & Associates Properties, Inc. is a real estate investment trust (REIT). CBL primarily owns regional malls that are the dominant retail facility in middle market areas. CBL is also an active developer of new regional malls and community centers. Since going public in 1993, CBL has generated tremendous growth as a company measured both by portfolio size and increases in cash flows and dividends. The company looks forward to continuing success through expansions, renovations and aggressive leasing at their properties. CBL also seeks opportunities to increase income through sponsorship, branding and other initiatives.
|
Find All Related Securities for CBL
|
Notes: Nov 02, 2020 -- CBL Properties (NYSE:CBL) today announced that CBL & Associates Properties, Inc., CBL & Associates Limited Partnership (the “Operating Partnership”), and certain other related entities have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, in Houston, TX (the “Court”) in order to implement a plan to recapitalize the company, including restructuring portions of its debt. Through this process, all day-to-day operations and business of the Company’s wholly owned, joint venture and third-party managed shopping centers will continue as normal. CBL’s customers, tenants and partners can expect business as usual at all of CBL’s owned and managed properties.
The Company intends to use the Chapter 11 process to implement terms outlined in the Restructuring Support Agreement (the “RSA”) that it entered into on August 18, 2020, with certain beneficial owners and/or investment advisors or managers of discretionary funds, accounts, or other entities (the “noteholders”) representing in excess of 62% (including joinders) of the aggregate principal amount of the Operating Partnership’s 5.25% senior unsecured notes due 2023 (the “2023 Notes”), the Operating Partnership’s 4.60% senior unsecured notes due 2024 (the “2024 Notes”) and the Operating Partnership’s 5.95% senior unsecured notes due 2026 (the “2026 Notes” and together with the 2023 Notes and the 2024 Notes, the “Unsecured Notes”). 12/2/2019 -- CBL Properties today announced that it is suspending all future dividends on its common stock, 7.375% Series D Cumulative Redeemable Preferred Stock and 6.625% Series E Cumulative Redeemable Preferred Stock. The dividend suspension will be reviewed quarterly by the Board of Directors, but is expected to remain in place until year-end 2020. The Company made this determination following a review of current taxable income projections for 2019 and 2020. The Company will review taxable income on a regular basis and take measures, if necessary, to ensure that it meets the minimum distribution requirements to maintain its status as a Real Estate Investment Trust (REIT). Unpaid dividends on CBL’s preferred stock shall accrue without interest. No dividends may be paid on shares of CBL’s common stock unless all accrued but unpaid dividends on its preferred stock, and any current dividend then due, have been (or contemporaneously are) paid in cash, or a cash sum sufficient for such payment has been set apart for payment.
|
Previous Ticker Symbol: CBLAQ Changed: 12/31/2021
Mid Cap Stock -
Market Value $ Million
|
Company's Online Information Links
|
| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 2030 Hamilton Place Boulevard, Suite 500, Chattanooga, TN 37421 |
| Main Phone Number |
423-855-0001 |
| Fax Number |
Not Available |
| Investor Relations
Katie Reinsmidt
|
423-490-8301
|
| Toll Free Phone Number |
800-333-7310 |
| CEO - Stephen D. Lebovitz |
CFO - Ben Jaenicke |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|
