CBL Completes More Than $480M in Financing Activity

CBL & Associates Properties, Inc. CBL today announced $481.1 million in financing activity at a combined estimated weighted average interest rate of 5.42% and a weighted average term of 6.8 years. Year-to-date the Company has closed ten separate non-recourse secured mortgages. Proceeds were used to repay approximately $370.0 million on the Company's $520.0 million credit facility and $90.0 million in existing loans scheduled to mature in 2011. Eight of the new loans were secured with properties previously used as collateral to secure the $520.0 million credit facility.