CBL redeems $335 million 10% senior secured notes due 2029

By Wendy Van Sickle

Columbus, Ohio, June 7 – CBL Properties announced the completion of the redemption of all $335 million of outstanding 10% senior secured notes due 2029 issued by wholly owned subsidiary CBL & Associates Holdco II, LLC.

The notes were redeemed on June 1.

The company announced the planned redemption, which was conditioned on new financing, on May 27, as reported.

CBL funded the redemption using proceeds from a new $360 million non-recourse loan secured by a pool of high-quality outparcels and open-air centers.

CBL is a Chattanooga, Tenn.-based real estate investment trust that invests in shopping centers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.