GGP Announces Redemption Of 5.375% Notes Due 2013
CHICAGO, Jan. 16, 2013 /PRNewswire/ -- General Growth Properties, Inc. (NYSE: GGP) today announced that its subsidiary, GGP-TRC, LLC, is calling its 5.375% Notes due November 26, 2013 (the "Notes") for redemption on February 14, 2013 (CUSIP 779273AG6).
The Notes will be redeemed in cash at the "Make-Whole Price" as defined in the applicable indenture plus accrued and unpaid interest up to, but excluding, the redemption date. As of the close of business on January 14, 2013, there were $91,786,000 of Notes outstanding.
From the redemption date forward, the Notes will no longer be deemed outstanding, interest will no longer accrue and holders will have no rights other than the right to receive the redemption price, without interest, upon surrender of the Notes. Payment of the redemption price will be made only upon presentation and surrender of the Notes to The Bank of New York Mellon, the trustee and paying agent, during its business hours at the address specified in the Notice of Redemption.
The Notice of Redemption was distributed to holders of the Notes on January 14, 2013.
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 Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) and available on our website, www.ggp.com. GGP assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
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.
SOURCE General Growth Properties, Inc.
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