CBL & ASSOCIATES PROPERTIES INC (CBL): debt financing — CBL completes $176M non-recourse loan, declares special dividend $0.175/sh

CBL & ASSOCIATES PROPERTIES INC

New $176M floating-rate non-recourse loan (SOFR+410 bps) secured by 4 properties; 5-year term with 2 one-year extension options.
Refinancing of former $634M secured term loan completed; extends maturity to 2031, improves FCF by >$30M/yr, reduces debt by >$33M.
Board approved special cash dividend of $0.175 per share for Q1 2026, total Q1 dividend $0.625 (39% increase); payable Apr 17 to record Apr 10.
Special transaction bonuses: CFO Benjamin Jaenicke $250,000, COO Katie Reinsmidt $25,000 for refinancing contributions.

item 1.01 item 2.03 item 5.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

CBL & ASSOCIATES PROPERTIES INC incurred term loan of $176 million with Beal Bank USA at SOFR + 410 basis points maturing five-year term.

Instrument: term loan
Principal: $176 million
Counterparty: Beal Bank USA
Rate: SOFR + 410 basis points
Maturity: five-year term
Event: incurrence

Exact text from the filing

On March 27, 2026, CBL & Associates Limited Partnership (the "Operating Partnership"), the majority owned subsidiary of CBL & Associates Properties, Inc. (the "REIT") (the REIT and the Operating Partnership are collectively referred to as the “Company”), as limited guarantor and certain of its subsidiaries, as borrowers, entered into a $176 million floating ‐ rate, non ‐ recourse loan secured primarily by a pool of three lifestyle and open ‐ air centers.

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Source: SEC EDGAR

accession 0001193125-26-139801

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