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CHICAGO — General Growth Properties Inc., the nation's second-largest mall operator, said Thursday it has $3 billion in debt remaining to be restructured and is considering "all indications of interest in the company."
The company is also considering financing alternatives such as a public offering of equity.
On Tuesday, the company, based in Chicago, said a bankruptcy court approved its plan to restructure $10.25 billion in debt. A plan for restructuring another $1.7 billion in debt is up for approval when some conditions are satisfied
General Growth filed the largest U.S. real estate bankruptcy case in history in April, after it expanded aggressively during the real estate boom, amassing $27 billion in debt, but was left unable to refinance its short term loans after financing dried up.
In a statement, General Growth said it is "evaluating alternatives to reduce overall leverage and raise the capital necessary to emerge from bankruptcy in 2010."
The company owns or operates more than 200 regional malls in 43 states including the Ala Moana Center in Honolulu and the Harborplace & The Gallery in Baltimore.
