8-K - CBL & Associates Properties, Inc. | StockGist

AI Analysis

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CBL & Associates Properties, Inc., through its Operating Partnership and subsidiaries, entered a $425 million non-recourse loan with Goldman Sachs Bank USA on March 13, 2026, secured by mall properties. Proceeds retire part of the existing $634 million term loan; the new loan has a 7.40% fixed rate, matures April 2031, and includes a minimum debt yield covenant.

Key Takeaways

1$425 million non-recourse loan dated March 13, 2026 with Goldman Sachs Bank USA

2$634 million existing secured term loan partially refinanced

37.40% fixed interest rate, five-year term maturing April 2031

4Secured by Cherryvale Mall (IL), Hanes Mall (NC), Kirkwood Mall (ND), and nine other mall properties

5Minimum debt yield covenant and customary financial/operating covenants

6Prepayable in full without penalty 12 months prior to maturity

Current Report Details

Event Type

Material Agreement

Other Event

Exhibits Only

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On March 13, 2026, CBL & Associat

Material Agreement

$425.0M$425.0M$634.0M$425.0M

Source Document

8.01

Other Events. On March 13, 2026, the Company announced the refinancing of the Company's existing $634 million term loan through two complementary transactions.

Other Event

9.01

Financial Statements and Exhibits. d) Exhibits Exhibit Number Description 10.1 Loan Agreement, dated March 13, 2026, between the Company, as a borrower and a gu

Exhibits Only

$425.0M

Transaction Details

Material Agreement

Agreement: Loan Agreement, dated March 13, 2026
Parties: CBL & Associates Limited Partnership (limited guarantor), certain subsidiaries (borrowers), Goldman Sachs Bank USA (lender)

•$425 million principal amount
•non-recourse
•secured by pool of primarily mall properties
•five-year term maturing April 2031
•fixed interest rate of 7.40%
•minimum debt yield covenant
•customary financial and operating covenants
•prepayable without penalty last 12 months
•acceleration on bankruptcy or customary events

Debt / Financing

Instrument: non-recourse loan
Principal: 425000000
Rate: 7.40% fixed
Maturity: April 2031
Use of Proceeds: retire a portion of existing $634 million secured term loan

Exhibits (2)

10.1

EX-10.1

8-K