General Growth Properties to launch $1.75 billion term loan on Tuesday

By Sara Rosenberg

New York, June 5 - General Growth Properties Inc. is scheduled to hold a bank meeting on Tuesday to launch its proposed $1.75 billion term loan, according to a market source.

Euro Hypo and Wachovia are the lead banks on the deal.

The term loan is being talked at Libor plus 225 basis points, the source said.

Proceeds will be used to refinance the company's existing term loan.

General Growth Properties is a Chicago-based real estate investment trust.

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