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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 2:51 AM

Slide #389. CBL & Associates Properties, Inc. Preferred Stock Offering

Company: CBL & Associates Properties, Inc. (NYSE:CBL)
Security type: 6.625% Series E Cumulative Redeemable Preferred Stock (NYSE:CBL.PRE)
Shares Offered: 6,000,000
Date of Pricing: 9/28/2012
Price Per Share: $25
Closed Date: 10/5/2012
Final Completed Deal Size: 6900000
Preferred Stock Offering Details: BL & Associates Properties, Inc. announced the pricing of an underwritten public offering of 6,000,000 depositary shares, each representing 1/10th of a share of its newly designated 6.625% Series E Cumulative Redeemable Preferred Stock at a public offering price of $25.00 per depositary share. The offering is expected to close on October 5, 2012. CBL granted the underwriters an option to purchase up to an additional 900,000 depositary shares within 30 days of the date of the final prospectus supplement referred to below. CBL may redeem, at its option, the depositary shares at a redemption price of $25.00 per depositary share, plus all accrued and unpaid dividends, on or after October 5, 2017. - updated 10/5/12 -- CBL & Associates Properties, Inc. announced the closing of its underwritten public offering of 6,900,000 depositary shares, each representing 1/10th of a share of its newly designated 6.625% Series E Cumulative Redeemable Preferred Stock with a liquidation preference of $25.00 per depositary share, including 900,000 depositary shares sold pursuant to the underwriters' exercise of their option to purchase additional depositary shares. The offering generated net proceeds to the Company of approximately $166.6 million, after deducting the underwriting discount and estimated offering expenses.

CBL & Associates Properties is a self-managed and self-administered real estate investment trust. Co. owns, develops, acquires, leases, manages, and operates regional shopping malls, open-air and mixed-use centers, outlet centers, associated centers, community centers and office properties. As of Dec 31 2016, Co. owned a controlling interest in 65 malls and non-controlling interests in nine malls; a controlling interest in 20 associated centers and a non-controlling interest in three associated centers; a controlling interest in four community centers and a non-controlling interest in five community centers; and a controlling interest in seven office buildings.

Preferreds: CBL.PRC, CBL.PRD, CBL.PRE


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Name: CBL & Associates Properties Inc
Website: cblproperties.com
Sector: REITs
Number of ETFs Holding CBL: 52 (see which ones)
Total Market Value Held by ETFs: $196,938,429
Total Market Capitalization: $977,000,000
% of Market Cap. Held by ETFs: 20.16%

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