GGP Strikes Deal To Restructure $895.5M In Debt

Law360, New York (April 28, 2010, 5:43 PM EDT) -- General Growth Properties Inc. has reached a deal with lenders to restructure about $895.5 million in debt, which would allow two of its malls to exit bankruptcy if it wins court approval.

The GGP subsidiaries that operate the Fashion Show Mall and the Shoppes at the Palazzo, both in Las Vegas, have reached an agreement to extend the maturity dates of their loans and raise their interest rates, according to a declaration GGP President Thomas Nolan filed Tuesday in the U.S. Bankruptcy Court for the Southern...
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