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CBL & Associates Properties, 7.75% Dep Shares Cumul Redeem Preferred Stock C
Ticker Symbol: CBL-C* CUSIP: 124830506 Exchange: NYSE
* NOTE: This security is no longer trading as of 11/05/2012
Security has been Called for: Monday, November 5, 2012
1-/5/2012 -- CBL & Associates Properties, Inc. today announced that it is calling for redemption all 460,000 outstanding shares of 7.75% Series C Cumulative Redeemable Preferred Stock, and all outstanding depositary shares, each representing 1/10th of a Series C Share (NYSE: CBLPrC - CUSIP No.: 124830-50-6). The redemption date will be November 5, 2012. The Series C Shares will be redeemed in whole at a redemption price of $250.00 per Series C Share, plus accrued and unpaid dividends to and including the redemption date in the amount of $1.9375 per Series C Share, for a total payment of $251.9375 per Series C Share. The Depositary Shares representing Series C Shares will be redeemed in whole at a redemption price of $25.00 per Depositary Share, plus accrued and unpaid dividends to and including the redemption date in the amount of $0.19375 per Depositary Share, for a total payment of $25.19375 per Depositary Share. The notice of redemption and related materials for the Series C Shares and the Depositary Shares are being mailed on October 5, 2012 to holders of record. Payment of the redemption price will be made on and after November 5, 2012, as soon as practicable after presentation and surrender of receipts evidencing the Depositary Shares or certificates evidencing the Series C Shares, as the case may be, to the depositary, Computershare Trust Company, N.A., Attention: Corporate Actions, at P.O Box 43014, Providence, RI 43014. Questions regarding the redemption of the Series C Shares and the Depositary Shares, or the procedures therefore, may be directed to Computershare Trust Company, N.A. at (800) 568-3476. Upon deposit by CBL with the depositary, in trust for the account of the holders of Series C Shares and holders of Depositary Shares, of the aggregate redemption price and all accrued and unpaid dividends, all of the Series C Shares and all of the Depositary Shares will no longer be deemed to be outstanding, and all rights with respect to the Series C Shares and Depositary Shares will forthwith cease and terminate (including, but not limited to, the right to receive dividends after the redemption date) except for the right of the holders thereof to receive, out of the funds so deposited in trust, the redemption price and dividends through and including the redemption date, without interest.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: CBL & Associates Properties Inc., Depositary Shares each representing 1/10 of a share of 7.75% Series C Cumulative Redeemable Preferred Stock, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 8/22/2008 at $25 per depositary share plus accrued and unpaid dividends, with no stated maturity, and with distributions of 7.75% ($1.9375) per annum paid quarterly on 3/30, 6/30, 9/30 & 12/30 to holders of record on the 15th day of the month in which the payment is due or on the date fixed by the board, not more than 30 days or less than 10 days prior to the payment date. Dividends paid by preferreds issued by REITs are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (CBL)
IPO - 8/7/2003 - 4.20 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $105.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: One Park Place, 6148 Lee Highway, Chattanooga, TN 37421 |
| Main Phone Number |
423-855-0001 |
| Fax Number |
423-490-8662 |
| Investor Contact (CFO)
John N. Foy
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423-855-0001
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Toll Free Phone Number |
Unknown |
| CEO - Charles B. Lebovitz |
CFO - John N. Foy |
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