General Growth reaches deal

NEW YORK - General Growth Properties Inc. reached a deal with some of its largest lenders to restructure about $9 billion of debt as part of its Chapter 11 case. The shopping mall owner agreed with a group of six lenders to restructure 70 loans, General Growth bankruptcy lawyers said. The malls where loans are being restructured will all have their own reorganization plans, and the lenders want them to emerge from Chapter 11 by the end of the year. The bankruptcy protection involved about half of the company's 200 malls, including Lincolnshire Commons in Lincolnshire and Spring Hill Mall in West Dundee. Not part of the filing were Northbrook Court in Northbrook, Oakbrook Center in Oak Brook, Golf Mill Shopping Center in Niles and Water Tower Place.