published Wednesday, October 16th, 2013

Business Briefs: Sequoyah refueled after 509-day run

Sequoyah refueled after 509-day run

The Tennessee Valley Authority has begun a scheduled refueling of its Unit 1 reactor at the Sequoyah Nuclear Power Plant after completing 509 consecutive days of operation.

The reactor generated 14.8 net gigawatt hours since its last refueling about 18 months ago.

More than 800 extra contract workers will be employed at the Soddy-Daisy plant during the refueling outage, which is projected to involve more than 160,000 work-hours.

CBL refinances Atlanta center

Chattanooga shopping center developer CBL & Associates Properties Inc. announced Tuesday it had closed on an $80 million loan secured by The Outlet Shoppes at Atlanta, a new retail location it opened recently with Horizon Group Properties.

The 10-year loan bears interest at a fixed rate of 4.9 percent and its proceeds were used to repay a $53.2 million construction loan.

CBL’s share of the remaining net funds reduced outstanding balances on the company’s unsecured credit facilities. CBL Chief Financial Officer Farzana Mitchell said securing long-term financing for the outlets center just three months after its opening “is a testament to the tremendous success” of the Atlanta complex.

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