Mall Landlord CBL Turns to Moelis, Weil for Restructuring
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CBL & Associates Properties Inc. hired Moelis & Co. and Weil Gotshal & Manges as it seeks advice on strategic and financing options including restructuring, according to people with knowledge of the matter.
The owner of shopping malls is exploring ways to recapitalize including an exchange offer, in which senior holders of unsecured debt swap their investments for secured debt, said one of the people, who requested anonymity because the matter is private. The Chattanooga, Tennessee-based company may also discuss a Chapter 11 bankruptcy filing as a last resort, some of the people said.