CBL to redeem all series C preferreds, may pay down lines of credit

By Tali David

Minneapolis, Sept. 27 - CBL & Associates Properties, Inc. plans to use the proceeds of its series E cumulative redeemable preferred stock offering to redeem all or a portion of its outstanding series C preferred stock with an aggregate liquidation preference of $115 million, according to a 424B2 filed with the Securities and Exchange Commission.

Any additional proceeds will be applied to reduce outstanding balances on the company's lines of credit.

CBL is a Chattanooga, Tenn.-based owner and developer of malls and 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.