News
BIG DEBT ACTION
April 1, 2010
 |
| Riemer Braunstein?s Don Rothman got the good word last Friday that the firm's plan for one of its clients to restructure $1.51B in debt owed it by General Growth Properties was accepted by US Bankruptcy Court in NYC. Of all his workouts, he says this was among the most rewarding because GGP has a good business operation but its Achilles heel was billions in debt coming due ?when no one?s out there to finance it.? The client, U.S. Bank, with a large syndicate of lenders, ?was the single largest secured facility.? |
