CBL & Associates Properties Inc. has a new Wednesday deadline related to discussions over some of its debt, the company said in a Securities and Exchange Commission filing.
The Chattanooga-based shopping center operator, which runs both Hamilton Place and Northgate malls in the city along with more than 100 properties nationally, received an extension on a forbearance period from lenders related to 2023 and 2026 notes, the company said.
More than a month ago, the company elected to not make interest payments and started talks with the lenders. Also, Wednesday is a deadline related to a forbearance period regarding its credit agreement.
That agreement called on CBL to provide information related to some of its properties including a specific list of offered, currently unencumbered properties suggested as new collateral for secured lenders as well as tenant sales reporting for fiscal year 2019, annual rent rolls as of June 30, and co-tenancy schedules.
In addition, CBL was to deliver 13-week cash flow forecasts and variance analyses for projections both outside and within a bankruptcy proceeding.
CBL took a revenue hit when its centers and retailers temporarily closed this spring due to the coronavirus outbreak.