CBL announces conditional redemption of $335M 10% Notes via $360M non-recourse loan

CBL & ASSOCIATES PROPERTIES INC

CBL to redeem $335M of 10% Senior Secured Notes on June 7, 2022, conditional on new financing closing.
New $360M non-recourse loan secured by 91 outparcels and 13 open-air centers from an institutional lender.
Redemption eliminates corporate guaranty, reduces interest expense, and creates ~$75M unencumbered NOI.
Moelis & Company acted as exclusive placement agent for the transaction.
Loan terms to be announced upon closing, expected on or around June 7, 2022.

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