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    Jim Sullivan

    Research Analyst at BTIG

    Jim Sullivan's questions to CBL & ASSOCIATES PROPERTIES (CBL) leadership

    Jim Sullivan's questions to CBL & ASSOCIATES PROPERTIES (CBL) leadership • Q4 2019

    Question

    Jim Sullivan from BTIG asked about the company's options regarding its preferred stock, which is trading at a significant discount, and sought clarification on whether the FFO guidance accounts for the suspended preferred dividend.

    Answer

    CEO Stephen Lebovitz stated that while the company evaluates all parts of its capital structure, the preferred stock is not the most immediate focus. CFO Farzana Khaleel confirmed that because the preferred dividend is cumulative, it is included as an undeclared charge in the company's FFO guidance.

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    Jim Sullivan's questions to CBL & ASSOCIATES PROPERTIES (CBL) leadership • Q4 2019

    Question

    Jim Sullivan asked about the company's options regarding its preferred stock, which was trading at a steep discount to par. He also sought clarification on whether the FFO guidance accounted for the suspended but cumulative preferred dividends.

    Answer

    CEO Stephen Lebovitz acknowledged they review all parts of the capital structure but indicated that the preferred stock is not the most immediate focus. CFO Farzana Khaleel confirmed that the company's FFO guidance does include the undeclared preferred dividend, as it is cumulative.

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