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CBL and Associates Properties Inc

CBL and Associates Properties Inc (CBL)

22.405
0.255
( 1.15% )
Updated: 15:20:02

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Key stats and details

Current Price
22.405
Bid
-
Ask
-
Volume
63,532
22.02 Day's Range 22.49
19.90 52 Week Range 25.28
Market Cap
Previous Close
22.15
Open
22.02
Last Trade
2
@
22.4
Last Trade Time
15:20:13
Financial Volume
$ 1,420,150
VWAP
22.3533
Average Volume (3m)
79,259
Shares Outstanding
32,273,350
Dividend Yield
6.92%
PE Ratio
133.33
Earnings Per Share (EPS)
0.17
Revenue
537.6M
Net Profit
5.43M

About CBL and Associates Properties Inc

CBL & Associates Properties Inc is a U.S.-based real estate investment trust. The company engages in managing, acquiring, and leasing residential and commercial properties. Its portfolio of properties spans 24 states, mostly in the Southeastern and Midwestern regions of the United States. CBL's sale... CBL & Associates Properties Inc is a U.S.-based real estate investment trust. The company engages in managing, acquiring, and leasing residential and commercial properties. Its portfolio of properties spans 24 states, mostly in the Southeastern and Midwestern regions of the United States. CBL's sales predominantly derive from leasing arrangements with retail tenants. The company also generates revenue from management and development fees, as well as sales of its real estate assets. CBL expands its portfolio of assets through activities such as redevelopment, renovation, and expansion. Show more

Sector
Real Estate Investment Trust
Industry
Real Estate Investment Trust
Headquarters
Wilmington, Delaware, USA
Founded
1970
CBL and Associates Properties Inc is listed in the Real Estate Investment Trust sector of the New York Stock Exchange with ticker CBL. The last closing price for CBL and Associates Prope... was $22.15. Over the last year, CBL and Associates Prope... shares have traded in a share price range of $ 19.90 to $ 25.28.

CBL and Associates Prope... currently has 32,273,350 shares outstanding. The market capitalization of CBL and Associates Prope... is $724.21 million. CBL and Associates Prope... has a price to earnings ratio (PE ratio) of 133.33.

CBL Latest News

CBL Properties Elevates Tenant Mix at Mayfaire Town Center in Wilmington, North Carolina With Several Key Additions

Free People and FP Movement to open this fall Reeds Jewelers to open first Rolex store in the market; lululemon to relocate and expand Today CBL Properties (NYSE:CBL) announced the addition of...

CBL Properties Reports Strong Results for First Quarter 2024

Same-center NOI increased 3.6% over the prior-year period CBL Properties (NYSE: CBL) announced results for the first quarter ended March 31, 2024. Results of operations as reported in the...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10.4952.2592423550921.9122.4921.676709921.97161956CS
40.6052.775229357821.823.1721.248586322.14570506CS
12-0.375-1.646180860422.7823.1720.977925922.04202638CS
26-1.395-5.8613445378223.825.2820.9710072723.01231319CS
52-1.345-5.6631578947423.7525.2819.98663622.58830104CS
156-3.845-14.647619047626.2541.519.911727325.91308054CS
26021.2051767.083333331.241.50.086222879161.26594656CS

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CBL Discussion

View Posts
Enterprising Investor Enterprising Investor 2 years ago
CBL Properties Declares Special Common Stock Dividend of $2.20 Per Common Share, Payable All in Cash (11/29/22)

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) today announced that its Board of Directors has declared a special dividend of $2.20 per share of common stock, payable all in cash. The Special Dividend is payable on January 18, 2023, to stockholders of record as of the close of business on December 12, 2022. The special dividend equates to an aggregate cash amount of approximately $70.0 million.

“We are pleased to further demonstrate our commitment to creating and returning stockholder value through this special all cash dividend,” said Stephen D. Lebovitz, chief executive officer of CBL Properties. “Through regular and special dividends, CBL will have distributed $2.95 per share for 2022, representing a yield of more than 10.1% to stockholders relative to today’s closing price, demonstrating meaningful return of value.”

Lebovitz added, “Management and the Board carefully considered CBL’s strong performance to-date in 2022, stable and flexible balance sheet, significant generation of free cash flow and current cash balance, in determining to pay the special dividend in all cash.”

In order to ensure that the Company maintains its status as a real estate investment trust, the Company must distribute at least 90% of its “real estate investment trust taxable income” each year. A special dividend is being made to meet this minimum distribution requirement.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 94 properties totaling 58.5 million square feet across 22 states, including 56 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

https://www.businesswire.com/news/home/20221129006089/en/
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CaoPanShou CaoPanShou 2 years ago
So CBL thinks they are valuable enough to attract a hostile takeover from Elon Musk or Bezos?
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Enterprising Investor Enterprising Investor 2 years ago
CBL Properties Adopts a Limited Duration Stockholder Protection Rights Agreement (9/08/22)

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE: CBL) (“CBL” or the “Company”) announced that its Board of Directors today adopted a Stockholder Protection Rights Agreement (“Rights Agreement”) and declared a dividend of one right on each outstanding share of CBL common stock. The record date to determine stockholders entitled to receive the rights is September 22, 2022.

The adoption of the Rights Agreement is intended to protect the long-term interests of CBL and all CBL shareholders and enable them to realize the full potential value of their investment in the Company. The Rights Agreement is designed to reduce the likelihood that any entity, person or group would gain control of, or significant influence over, CBL, through the open-market accumulation of the Company’s shares, private purchases or otherwise, without appropriately compensating all CBL shareholders for control at a full and fair price in a transaction that is in the best interests of the Company and its stockholders.

“We have made significant strategic and operational progress since emerging from bankruptcy in November 2021,” stated Stephen Lebovitz, chief executive officer of CBL. “In ten months, we completed a number of major transactions that have substantially enhanced our balance sheet strength and flexibility, including the refinance of higher rate secured notes generating meaningful interest savings, and the completion of beneficial property-level refinancings. These transactions and ongoing operational improvements have resulted in our portfolio generating strong cash flow, which has led to shareholder returns through the implementation of a regular quarterly cash dividend.”

Lebovitz continued, “As we approach the one-year anniversary of our emergence, we are continuing to develop long-term business strategies to further financial and operational improvements, create value across our portfolio and generate ongoing returns for our shareholders.”

If any person or group acquires beneficial ownership (as defined in the Rights Agreement) of 10% or more of the Company’s outstanding common stock or, in the case of persons or groups owning 10% or more of CBL’s common stock on the date of adoption of the Rights Agreement (including Canyon Capital Advisors, Oaktree Capital Management and Strategic Value Partners), increases their beneficial ownership, the rights will allow stockholders other than the person or group crossing that limit to purchase CBL common stock at a discount.

Mr. Lebovitz stated that “the Rights Agreement is not intended to preclude discussions or engagement with parties regarding value-creation opportunities for CBL. Furthermore, it will ensure that the Board and Management can properly evaluate and implement business and operational strategies that maximize value for all of CBL’s shareholders.”

The Rights Agreement does not contain any dead-hand, slow-hand, no-hand or similar feature that would limit the ability of a future Board to redeem the rights at any time before a person or group crosses the 10% threshold.

The Rights Agreement will automatically expire in one year, on September 8, 2023.

Stockholders are not required to take any action to receive the rights distribution. Until the rights become exercisable, they will trade with the shares of the Company’s common stock. The Rights Agreement will not have any impact on the reported earnings per share of the Company and will not change the manner in which the Company’s common stock is currently traded. Issuance of the rights is not taxable to CBL or its stockholders.

CBL is a publicly held company whose shares are listed on the New York Stock Exchange under the ticker symbol CBL.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 95 properties totaling 59.6 million square feet across 24 states, including 57 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

https://www.businesswire.com/news/home/20220908006059/en/
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Enterprising Investor Enterprising Investor 2 years ago
Special one-time dividend could be in the $2.35 to $3.14 range.
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Enterprising Investor Enterprising Investor 2 years ago
Jeffrey Kivitz is a Partner with Canyon Partners, LLC.

Kivitz resign as a director of the Company if he ceases to be employed with Canyon.

The interests of Canyon Capital Advisors LLC, an affiliate of Canyon, and certain of its related parties, in transactions related to the Company’s voluntary reorganization under Chapter 11 of the United States Bankruptcy Code, beneficially own an aggregate of 8,396,293 shares of common stock (representing approximately 26.4%). Subsequent to the date of the 2022 Proxy Statement and effective as of June 7, 2022, the Company redeemed all of its outstanding 10% Senior Secured Notes due 2029, which resulted in aggregate cash payments of $79,399,768 to Canyon Capital Advisors LLC and its related parties (as described in the 2022 Proxy Statement) related to their pro rata share of the Senior Secured Notes that were redeemed.

https://www.sec.gov/ix?doc=/Archives/edgar/data/910612/000156459022028953/cbl-8k_20220810.htm
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Enterprising Investor Enterprising Investor 2 years ago
CBL Properties Welcomes Jeff Kivitz to Its Board of Directors (8/10/22)

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE: CBL) today announced that Jeff Kivitz has been appointed to the company’s board of directors. Mr. Kivitz was also appointed to serve as a member of the company’s compensation committee and nominating/corporate governance committee.

“Jeff brings great experience to CBL’s board of directors,” said Stephen D. Lebovitz, chief executive officer. “We have had the opportunity to get to know and work with Jeff through CBL’s restructuring and since emergence through his role at Canyon Partners, CBL’s current top shareholder. His extensive investment experience will be important as we continue our focus on maximizing value for our shareholders.”

Mr. Kivitz is a Partner with Canyon Partners, LLC. He is responsible for the firm’s investments in companies across the REIT, technology, software, building product, and retail sectors. Prior to joining Canyon, Mr. Kivitz worked as a consultant in both the private equity and general consulting practices at Bain & Company, where he acted as an advisor on buyout and corporate strategy. Mr. Kivitz graduated cum laude from Williams College (B.A., Economics).

About Canyon Partners LLC

Founded and partner owned since 1990, Canyon is a global alternative investment manager with eight offices worldwide. The firm employs a deep value, credit intensive approach with a focus on special situations and other complex investments. Canyon’s strategies encompass a broad range of asset classes, including specialty financings, distressed investments, corporate bonds, securitized assets, real estate, arbitrage, and value equities. For more information visit: www.canyonpartners.com

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 95 properties totaling 59.6 million square feet across 24 states, including 57 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

https://www.businesswire.com/news/home/20220810005528/en/
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Enterprising Investor Enterprising Investor 2 years ago
CBL Properties Declares Third Quarter Common Stock Dividend (8/10/22)

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) today announced that its board of directors has declared a dividend of $0.25 per common share, payable in all cash, for the quarter ending September 30, 2022. The dividend, which equates to an annual dividend payment of $1.00 per common share, is payable on September 30, 2022, to shareholders of record as of September 15, 2022.

Special Dividends - Update

Based on updated projections of taxable income for the twelve months ended December 31, 2022, CBL expects to distribute a special one-time dividend in the range of $75 to $100 million to meet minimum distribution requirements. The exact amount of the special dividend will be determined by CBL’s board of directors in the fourth quarter and will be subject to the board’s ongoing review of the company’s financial performance over the remainder of the year in relation to current projections. Subject to IRS guidelines, the special dividend may be distributed in all cash or in a combination of cash and common stock, as determined at the time by CBL’s board of directors.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 95 properties totaling 59.6 million square feet across 24 states, including 57 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

https://www.businesswire.com/news/home/20220810005635/en/
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Enterprising Investor Enterprising Investor 2 years ago
CBL Properties Establishes Regular Quarterly Common Stock Dividend (6/30/22)

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) today announced that its Board of Directors has established a regular quarterly cash dividend. The Board of Directors declared a dividend of $0.25 per common share, payable in all cash, for the quarter ending June 30, 2022. The dividend, which equates to an annual dividend payment of $1.00 per common share, is payable on July 20, 2022, to shareholders of record as of July 11, 2022.

“It is an important milestone for CBL to reestablish a regular quarterly cash dividend,” said Stephen Lebovitz, chief executive officer. “Our strong operating performance and recent attractive financing activity have further enhanced our substantial cash flow generation and contributed to a cash position of over $335 million as of March 31. We are pleased to share this success through this cash distribution, which is the first step in a broader plan to create and return value to our shareholders.”

Future Regular and Special Dividends

CBL anticipates paying out the minimum distribution (at least 90% of taxable income) required to maintain its status as a Real Estate Investment Trust (REIT). CBL currently expects to pay regular quarterly dividends for the third and fourth quarters of 2022 in addition to the second quarter dividend declared today.

In addition, based on current projections of taxable income for the twelve months ended December 31, 2022, CBL currently expects to distribute a special one-time dividend in the range of $75 to $125 million to meet minimum distribution requirements. The exact amount of the special dividend will be determined by CBL’s Board of Directors in the fourth quarter and will be subject to the Board’s ongoing review of the Company’s financial performance over the remainder of the year in relation to current projections. Subject to IRS guidelines, the special dividend may be distributed in all cash or in a combination of cash and common stock, as determined at the time by CBL’s Board of Directors.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 95 properties totaling 59.6 million square feet across 24 states, including 57 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

https://www.businesswire.com/news/home/20220630005860/en/
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Enterprising Investor Enterprising Investor 2 years ago
CBL Properties Announces Full Redemption of 10% Senior Secured Notes Utilizing Proceeds From a New $360 Million Non-Recourse Secured Financing (5/27/22)

Eliminates Corporate Guaranty

Generates Interest Savings and Improved Free Cash Flow

Creates Significant Unencumbered Pool

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE: CBL) today announced the planned redemption of all $335.0 million outstanding 10% Senior Secured Notes. CBL will fund the redemption utilizing proceeds from a new $360.0 million non-recourse loan to be secured by a pool of high-quality outparcels and open-air centers.

“This new financing is a major milestone in the strengthening of CBL and our balance sheet,” said Stephen Lebovitz, chief executive officer, CBL Properties. “It is the latest in a number of recent financings to validate the tremendous value of our company and our portfolio.”

Lebovitz added, “Following the redemption of the remaining outstanding 10% Notes, the corporate guaranty is eliminated, free cash flow is improved through a reduction in interest expense, and we will have more than $75 million in estimated unencumbered NOI, providing meaningful future financial flexibility. With more than $335 million of cash on hand at first quarter-end and considerable ongoing generation of free cash flow from operations, we are extremely well-positioned to pursue opportunities that will return excellent value to our shareholders.”

Today, the Company’s wholly owned subsidiary, CBL & Associates Holdco II, LLC (the “Issuer”) delivered a conditional notice of redemption to holders of its 10% Senior Secured Notes due 2029 (the “10% Notes”), pursuant to the terms of the indenture governing the 10% Notes, to redeem the remaining $335.0 million aggregate principal amount of 10% Notes (the “Redemption”) on June 7, 2022. The Redemption is conditioned upon the receipt by the Issuer of net cash proceeds from the new financing. There can be no assurances as to when or if such condition will be satisfied and the Issuer may waive the condition at its discretion.

The new loan will be provided by an institutional lender. It will be secured by a pool of 91 outparcels located across CBL’s portfolio and 13 open-air centers. The open-air centers include Alamance Crossing West in Burlington, NC, Coolspring Crossing and The Courtyard at Hickory Hollow in Nashville, TN, Frontier Square in Cheyenne, WY, Gunbarrel Pointe in Chattanooga, TN, Harford Mall Annex in Bel Aire, MD, The Plaza at Fayette in Lexington, KY, Sunrise Commons in Brownsville, TX, The Shoppes at St. Clair in Fairview Heights, IL, The Landing at Arbor Place in Atlanta, GA, West Towne Crossing and West Towne District in Madison, WI, and Westgate Crossing in Spartanburg, SC.

Terms of the loan will be announced upon closing, which is expected on or around June 7, 2022, subject to completion of customary due diligence and documentation.

This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders or consents with respect to, any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful.

Moelis & Company LLC acted as Exclusive Placement Agent to CBL on the transaction.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 95 properties totaling 59.6 million square feet across 24 states, including 57 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

https://www.businesswire.com/news/home/20220527005293/en/CBL-Properties-Announces-Full-Redemption-of-10-Senior-Secured-Notes-Utilizing-Proceeds-From-a-New-360-Million-Non-Recourse-Secured-Financing
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CaoPanShou CaoPanShou 2 years ago
CBL just went woke, that is the end of this company.
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CaoPanShou CaoPanShou 3 years ago
my shares went noname yesterday, now back to being CBLAQ...same amount too
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MasterBlastr MasterBlastr 3 years ago
Will see if Fidelity is going to have my CBL shares ready to sell tomorrow when it hits $150.00
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MasterBlastr MasterBlastr 3 years ago
(.174 / .005457723) = $31.88 breakeven for CBL tomorrow based on market close of .174 cents/share CBLAQ 11/1/21.
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MasterBlastr MasterBlastr 3 years ago
PR - CBL emerges from Chap 11 -

https://ih.advfn.com/stock-market/NYSE/cbl-and-associates-prope-CBL/stock-news/86426204/cbl-properties-exits-chapter-11
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MasterBlastr MasterBlastr 3 years ago
All equities converted to CBL - look for that ticker and your shares converted. Hopefully we all come out ahead. GLTA.
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Renee Renee 3 years ago
CBLAQ (and CBLEQ, CBLDQ): BK PLAN effective. All shares cancelled.

https://otce.finra.org/otce/dailyList?viewType=Deletions
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MasterBlastr MasterBlastr 3 years ago
Very nice - now its a matter of preserving equity for post emergence. The company should do well afterward.
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Enterprising Investor Enterprising Investor 3 years ago
Existing common and preferred stakeholders will split 11 percent of common equity in the newly reorganized company.
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MasterBlastr MasterBlastr 3 years ago
I heard equity should finish in the money.
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Enterprising Investor Enterprising Investor 3 years ago
CBL Properties Generates $13.75 Million From Recently Closed Asset Sales (10/11/21)

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (OTCMKTS:CBLAQ) today announced that it closed on two strategic asset sales generating gross proceeds of approximately $13.75 million.

The Company has closed the sale of the former Sears building at Harford Mall in Bel Air, Maryland to SJC Ventures, generating $5.0 million of gross proceeds. SJC Ventures plans to utilize the land for a future grocery-anchored redevelopment.

“The redevelopment of Harford Mall’s former Sears building by SJC Ventures will attract considerable new traffic and activity to Harford Mall, positioning the property for an even greater transformation,” said Stephen Lebovitz, chief executive officer, CBL Properties. “Harford Mall enjoys a prime location with strong demographics and represents a tremendous opportunity to attract new uses and create additional value.”

CBL also closed on the sale of its 64 residential units at Pearland Town Center in Pearland, Texas, generating gross proceeds of $8.75 million to an institutional buyer. The units were developed as part of the original mixed-use project, which opened in 2008. The transaction takes advantage of the favorable demand for multi-family assets and is an attractive monetization of CBL’s investment.

Lebovitz added, “Year-to-date we have completed over $35 million in asset sales, which demonstrates the considerable value embedded in our portfolio. These sales supplement our strong cash position and provides capital for profitable future growth opportunities.”

About SJC Ventures

Founded in 2007, SJC Ventures, formerly S.J. Collins Enterprises, is a privately held, mixed-use commercial real estate and retail development firm. The company has acquired and developed more than 60 retail, mixed-use, multifamily and office projects throughout the continental U.S. The company is headquartered in Georgia. For more information, visit www.sjcventures.com.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s portfolio is comprised of 105 properties totaling 63.9 million square feet across 24 states, including 63 high-quality enclosed, outlet and open-air retail centers and six properties managed for third parties. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

https://www.businesswire.com/news/home/20211011005063/en/CBL-Properties-Generates-13.75-Million-From-Recently-Closed-Asset-Sales
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Enterprising Investor Enterprising Investor 3 years ago
CBL Properties Announces Confirmation of Its Plan of Reorganization (8/11/21)

CBL’s Plan Received Over 95% Support From All Voting Constituencies

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (OTCMKTS: CBLAQ) today announced that on August 11, 2021, the United States Bankruptcy Court for the Southern District of Texas entered an order approving the Company’s Plan of Reorganization (the “Plan”). As previously announced, on November 1, 2020, CBL filed petitions in the Bankruptcy Court for voluntary relief under Chapter 11 of Title 11 of the United States Bankruptcy Code. CBL received overwhelming support for the Plan, with over 95% of votes cast for all classes voted in favor of the Plan’s confirmation. The effective date of the plan is expected to be November 1, 2021.

“This confirmation is a huge milestone for CBL,” said Stephen D. Lebovitz, Chief Executive Officer of CBL. “After months of hard work and collaborative negotiation, we are thrilled to receive such unprecedented support of our plan from every creditor group, as well as preferred and common equity. This plan provides a favorable recovery to every constituency and a strong path forward for our company and our business. Over the next few months, we will be working to close these complex transactions and will emerge on November 1st as a reenergized company with a bright future and flexible capital structure.”

As confirmed, the Plan calls for restructuring the Company’s balance sheet to provide for the elimination of more than $1.6 billion of debt and preferred obligations as well as a significant reduction in interest expense. In exchange for their approximately $1.375 billion in principal amount of Unsecured Notes and $133 million in principal amount of the secured credit facility, Consenting Noteholders and other noteholders will receive, in the aggregate, $95 million in cash, $555 million of new senior secured notes, of which up to $100 million, upon election by the Consenting Noteholders, may be received in the form of new convertible secured notes and 89% in common equity of the newly reorganized Company. Certain Consenting Noteholders will also provide up to $50 million of new money in exchange for additional convertible secured notes. The remaining Bank Lenders, holding $983.7 million in principal amount under the secured credit facility, will receive $100 million in cash and a new $883.7 million secured term loan. Existing common and preferred stakeholders are expected to receive up to 11% of common equity in the newly reorganized company.

The latest information on CBL’s restructuring, including news and frequently asked questions, can be found at cblproperties.com/restructuring or https://dm.epiq11.com/case/cblproperties/info.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s portfolio is comprised of 105 properties totaling 63.9 million square feet across 24 states, including 63 high-quality enclosed, outlet and open-air retail centers and seven properties managed for third parties. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information, visit cblproperties.com.

https://www.businesswire.com/news/home/20210811005783/en/CBL-Properties-Announces-Confirmation-of-Its-Plan-of-Reorganization
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cov20 cov20 3 years ago
So what now?
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Blade$dream Blade$dream 3 years ago
$CBLAQ keep on going higher $$$$$
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Blade$dream Blade$dream 3 years ago
$CBLAQ Strong Sexy Baby $$$$$$$$$$$$$$$$$$$$$$$$$$$
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SilverKidd SilverKidd 3 years ago
Buying more on the dip.
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Welsh_Dragon Welsh_Dragon 3 years ago
Interest picking up.
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Welsh_Dragon Welsh_Dragon 3 years ago
Swoon over picked up 0.10 support.
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CaoPanShou CaoPanShou 3 years ago
It will be awhile but, they never stopped converting dead anchor spaces into town center style multi use space. I suspect there is is going to be a lot more foot traffic this year as peeps are tired of living out of their mailbox.
Spring fever is stronger than fake virus news. I couldn't even park when I went out shopping sunday.
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SilverKidd SilverKidd 3 years ago
Heading back to at least $33 dollars a share.
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Terminal Outlaw Terminal Outlaw 3 years ago
CBL court date set for this Friday, March 5th. This is not a hearing about CBL's Chapter 11 RSA, but a hearing on whether or not Well's Fargo gets their wish and has CBL's Chapter 11 protection removed entirely. I am bullish on the issue and feel it will be ruled in CBL's favor. WF already had a restraining order placed against them by CBL when they tried getting rent payments mailed directly to them instead of rent going to CBL. 1-0 for CBL thus far. May it be 2-0 come this friday!
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Terminal Outlaw Terminal Outlaw 3 years ago
Recent institutional stock acquisition of $CBLAQ

Charles Schwab Investment Management, Inc
20,427,510 shares of common stock
Date of event: 9/30/2020

Renaissance Technologies, LLC
8,526,239 shares of common stock
Date of event:

BlackRock, Inc.
3,480,833 shares of common stock
Date of event: 6/30/2020

The Vanguard Group
8,604,867 shares
Title of class securities: REIT
Date of event: 12/31/2019

Luxor Capital Partners, LP
Title of class securities: common stock
Date of event: 12/31/2019
LCP Onshore Fund: 4,223,749 shares
Wavefront Fund: 1,074,238 shares
Offshore Master Fund: 2,911,754 shares
Thebes Master Fund: 1,124,079 shares
LCP total: 9,333,820 shares
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Terminal Outlaw Terminal Outlaw 3 years ago
I live in the town where CBL is headquartered. In my town CBL is still developing out their properties in full-force. They've recently added Cheesecake Factory, Dave & Busters, new hotels, Dick's, and many other in Chattanooga alone. These are new developments built from the ground up and not newly leased spaces. They have others coming soon too. I follow our local paper which mentions CBL quite often. CBL still seems to be doing strong here and their board is eager to get things back on the right track. I don't understand how - if they are in such bad shape - they haven't announced layoffs and are still able to pay their contractors.

I have't posted to this site in YEARS, but being a penny stock lover it really hit me when I saw CBL here when it's mostly fake/worthless companies and not companies that have nearly $800M in actual revenue (2019).

I am now long CBL as of today. Once the virus is out of here we go back to dollar land imho.
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chemist72 chemist72 3 years ago
You think THAT caused the 115% move yesterday?

That's just OTC crazy! LOL
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Blade$dream Blade$dream 3 years ago
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chemist72 chemist72 3 years ago
Is this what you're talking about?

Wells Fargo says CBL & Associates, owner of Monroeville Mall & 107 others, defaulted on $1.2B in loans & gave up control of the company under those loan agreements, so couldn't declare Ch. 11 back in November: https://t.co/CK1lEoVwBT via @Law360— Matthew Santoni (@msantoni) January 27, 2021
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Blade$dream Blade$dream 3 years ago
a tweet from company => check twitter
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chemist72 chemist72 3 years ago
Not really. I have no explanation for the run yesterday.

Perhaps some "group" just realized that even though these shares will be cancelled, they will be replaced with shares/warrants in the reorganized entity.

All the above is stated in the POR. Of course, one needs to wait for the POR to be approved and for an "effective" date to be established. This all takes time, so I sold my small shares yesterday for a nice profit.
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CaoPanShou CaoPanShou 3 years ago
Its up because a hearing date was announced???
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chemist72 chemist72 3 years ago
Revised Disclosure Hearing dates. Docket # 830.

https://dm.epiq11.com/case/cblproperties/dockets
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chemist72 chemist72 3 years ago
Was Disclosure Statement approved? Is that why CBLAQ is up about 38% today?
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Enterprising Investor Enterprising Investor 3 years ago
Notice of Hearing to Consider Approval of Disclosure Statement for Debtors' Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code. (Related document(s):[370] Chapter 11 Plan, [371] Disclosure Statement) Filed by CBL & Associates Properties, Inc. (1/04/21)

Source: Epiq [Docket 745]
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Enterprising Investor Enterprising Investor 3 years ago
Joint Chapter 11 Plan of Reorganization:

https://portal-redirect.epiq11.com/CBJ/document/GetDocument.aspx?DocumentId=3838183
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Enterprising Investor Enterprising Investor 3 years ago
Disclosure Statement for Joint Chapter 11 Plan:

https://portal-redirect.epiq11.com/CBJ/document/GetDocument.aspx?DocumentId=3838187
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Enterprising Investor Enterprising Investor 3 years ago
Epiq Global:

https://dm.epiq11.com/case/cblproperties/info
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chemist72 chemist72 3 years ago
Anyone have a link to CBLAQ Bankruptcy dockets??

tia
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timtxus timtxus 4 years ago
What has been keeping the stock price up is the fact that there is a recovery for common shareholders here. Nothing in the RSA has changed other than the bk filing. The market valued this at 15 cents before the bk filing. I expect we will see 15 cents again in the next week or two.
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Value_Investor Value_Investor 4 years ago
The Biggest volume day after the CH11 was 11/11/2020: nearly 60M shares sold at 0.0175 ~ 0.068 of which about 50M shares sold at 0.0175 ~ 0.02xx!

CBLAQ hit 0.07 today! Hopefully it won't crash back to 0.0175 again!

Anyway buying CBLAQ at 0.07 = buying its CH11-Reorganization peer (DESTQ) at 0.9567 vs at 0.0123 now!

So CBLAQ has performed much much better than DESTQ!


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timtxus timtxus 4 years ago
We have yet to see a real run with 40 million plus shares traded. May see few next week.
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Value_Investor Value_Investor 4 years ago
New high 0.0694 today! Which means 4-bagger Quick rally so far!
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Value_Investor Value_Investor 4 years ago
LOL, some weak hands pushed CBLAQ down to 0.041 ~ 0.0405 today! However our strong hands just pushed it back to 0.0488 ~ 0.0465! So we might see last Friday's high 0.05 again as soon as today since today's high is 0.0498...

I wish to see similar Strong Slapping actions to its CH11-peer DESTQ!


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