General Growth (GGP) Completes Chapter 11 Restructuring

General Growth Properties, Inc. (NYSE: GGP) announced that they have successfully completed their restructuring under Chapter 11 of the U.S. Bankruptcy Code.

GGP successfully:

• Consensually restructured approximately $15 billion of project-level debt
  
  
• Recapitalized with $6.8 billion in new equity capital
  
  
• Paid all creditor claims in full
  
  
• Achieved substantial recovery for equity holders

UBS Investment Bank and Miller Buckfire & Co., LLC are serving as financial advisors to General Growth Properties in connection with the restructuring, and Weil, Gotshal & Manges LLP and Kirkland & Ellis LLP are acting as legal counsel to the Company.

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