CBL & Associates Properties Inc., Chattanooga, Tenn., has reported the completion of a new, unsecured credit facility of up to $400 million.The facility has an initial term of two years, with three one-year extensions at the company's option. It carries an interest rate, depending on leverage, ranging from 100 to 145 basis points over the London interbank offered rate, CBL said. The facility replaces a $130 million unsecured credit line that was to expire in September. The real estate investment trust can be found online at http://www.cblproperties.com.
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