CBL & Associates Properties Inc. on Monday announced it has closed on a $127.9 million preferred stock offering.
The company closed on an underwritten public offering of 6.3 million depository shares, according to the Chattanooga-based shopping center developer.
The shares were priced at $20.30 per share including accrued dividends equating to a yield of 9.08 percent, the company said.
The company intends to use the proceeds of $123.3 million to reduce outstanding borrowings under its credit facilities and for general corporate purposes.
New vehicles titled rise in February
The number of vehicles titled in February rose more than 7 percent in Hamilton County, according to the Clerk's Office.
Some 593 vehicles were registered in the month, compared to 552 a year ago, the office reported.
The number of used vehicles titled in the county last month fell slightly to 3,491 compared to 3,500 in February 2009.
VW aims to be electric car leader
Volkswagen AG's chief executive said Monday the automaker aims to become the electric vehicle market leader by 2018.
"We want to attain an electric vehicle market share of 3 percent within our entire range of products," said CEO Martin Winterkorn.
The use of hybrid technology in production vehicles is already being demonstrated in the Touareg Hybrid at this year's Geneva Motor Show under way this week.
In 2011, a test fleet of 500 Golfs with electric drives will follow, according to VW.