General Growth Obtains Approval for DIP Loan/Cash Collateral Use
(May 14th, 2009 under Real Estate Industry )“General Growth Properties Inc., which filed the biggest real-estate bankruptcy in U.S. history, won court approval [over the objections of some of its other lenders] of a $400 million loan from a group led by Farallon Capital Management LLC and the right to use cash on hand to fund its operations.
The company received approval to use the so-called cash collateral and borrow on the loan over objections from lenders on some properties.”
Here is a link: http://www.bloomberg.com/apps/news?pid=20601103&sid=aRqD.0uCw5Sk&refer=us
Michael
This entry was posted on Thursday, May 14th, 2009 at 9:53 am and is filed under Real Estate Industry .
