GGP Announces Pricing Of $250 Million 6.375% Cumulative Redeemable Perpetual Preferred Stock

CHICAGO, Feb. 6, 2013 /PRNewswire/ -- General Growth Properties, Inc. (NYSE: GGP, the "Company") today announced that it has priced an underwritten public offering of 10,000,000 shares, or $250 million, of 6.375% Series A Cumulative Redeemable Perpetual Preferred Stock at a price of $25.00 per share, pursuant to an effective registration statement. The offering is expected to close on February 13, 2013, subject to customary closing conditions. The Company granted the underwriters an option to purchase up to an additional 1,500,000 shares within 30 days to cover over-allotments, if any.

Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Securities LLC and Wells Fargo Securities, LLC acted as joint book-running managers for the offering. RBC Capital Markets, LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC acted as joint lead managers. The offering may be made only by means of a prospectus supplement and accompanying prospectus. A copy of the prospectus supplement and accompanying prospectus relating to this offering may be obtained by contacting: (i) Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, toll-free 1-866-718-1649 or email prospectus@morganstanley.com; (ii) Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 7th Floor, New York, NY 10038, Attention: Prospectus Department, toll-free 1-800-294-1322 or email: dg.prospectus_requests@baml.com; (iii) UBS Securities LLC, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Department or toll-free 1-877-827-6444, ext. 561-3884; or (iv) Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, Attention: Capital Markets Client Support, toll-free 1-800-326-5897 or email: cmclientsupport@wellsfargo.com.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration and qualification.

Forward-Looking Statements

The forward-looking statements contained in this news release are subject to certain risks and uncertainties including, without limitation, the risks described under the heading "Risk Factors" in our preliminary prospectus supplement, our Current Report on Form 8-K, filed on June 27, 2012, and our subsequently filed Quarterly Reports on Form 10-Q and other risks described from time to time in periodic and current reports that we file with the Securities and Exchange Commission (the "SEC"). GGP assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

ABOUT GGP

General Growth Properties is a fully integrated, self-managed and self-administered real estate investment trust focused exclusively on owning, managing, leasing, and redeveloping high-quality regional malls throughout the United States and Brazil. GGP's portfolio is comprised of 126 regional malls in the United States and 18 malls in Brazil comprising approximately 135 million square feet. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP. 

Contact Information:  


Investors:

Media:

Kevin Berry, VP Investor Relations

David Keating, VP Corporate Communications

kevin.berry@ggp.com

david.keating@ggp.com

(312) 960-5529

(312) 960-6325  

SOURCE General Growth Properties



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