---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-139801"
form_type: "8-K"
ticker: "CBL"
cik: "0000910612"
company_name: "CBL & ASSOCIATES PROPERTIES INC"
filed_at: "2026-04-02T23:59:59+00:00"
generated_at: "2026-05-15T07:55:09.652097+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# CBL completes $176M non-recourse loan, declares special dividend $0.175/sh

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-139801
- form_type: 8-K
- ticker: CBL
- cik: 0000910612
- company_name: CBL & ASSOCIATES PROPERTIES INC
- filed_at: 2026-04-02T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/910612/000119312526139801/0001193125-26-139801-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/910612/000119312526139801/cbl-20260327.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-139801
- JSON: https://secwatch.observer/filing/0001193125-26-139801.json
- Plain text: https://secwatch.observer/filing/0001193125-26-139801.txt

## Source-grounded claims
- claim_id: 2e0dbf3b0501213963cbe2f0a60101edd202c202
  claim: CBL & ASSOCIATES PROPERTIES INC incurred term loan of $176 million with Beal Bank USA at SOFR + 410 basis points maturing five-year term.
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/910612/000119312526139801/0001193125-26-139801-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.