General Growth Scores $1B In Loans In Refinancing Deal

Law360, New York (October 17, 2011, 8:04 PM EDT) -- General Growth Properties Inc., the country's second-biggest mall operator, announced Monday that it had refinanced $966 million in loans on four shopping centers into new fixed-rate loans as part of the company's post-bankruptcy plans to get its finances in order.

The new mortgages, at malls in Boston, Los Angeles, Houston and Chicago, have an average interest rate of 4.63 percent, compared with the 5.66 rate on the maturing loans they replaced, the company said..

General Growth, which emerged from Chapter 11 protection in November 2010, has...
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