ITEM 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

CBL & Associates Limited Partnership (the "Operating Partnership"), the majority-owned subsidiary of CBL & Associates Properties, Inc. (the "Company"), is party to a $1.185 billion senior secured credit facility (the "Facility"), which includes a fully-funded $500 million term loan and a revolving line of credit with a borrowing capacity of $685 million, with a syndicate of banks pursuant to a credit agreement (the "Credit Agreement"). A copy of the Credit Agreement is filed as Exhibit 4.14.4 to the Company's Current Report on Form 8-K dated January 30, 2019. The material terms of the Facility are also described in Note 8 of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019.

On March 19, 2020 and March 20, 2020, the Operating Partnership completed draws under the line of credit totaling $280 million to increase liquidity and preserve financial flexibility in light of the current uncertainty surrounding the impact of COVID-19. The $280 million of draws represents substantially all of the remaining available balance on the line of credit. Following these draws, the outstanding balance under the line of credit is $680.8 million, including outstanding letters of credit of $4.8 million.

ITEM 7.01 Regulation FD Disclosure

On March 25, 2020, the Company issued a press release announcing the borrowings under the Facility and the withdrawal of its fiscal 2020 guidance provided on February 6, 2020, due to increased uncertainty surrounding the impact of COVID-19. The Company is not providing updated guidance at this time. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report.

ITEM 9.01 Financial Statements and Exhibits

(a) Financial Statements of Businesses Acquired




Not applicable



  (b) Pro Forma Financial Information


Not applicable



  (c) Shell Company Transactions


Not applicable



  (d) Exhibits






Exhibit
 Number    Description
  99.1       Press Release issued March 25, 2020.
           Cover Page Interactive Data File (formatted as Inline XBRL with
  104      applicable taxonomy extension information contained in Exhibits 101.*).
           (Filed herewith)

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