Washington Prime lenders, noteholders agree to extend forbearance

Chicago, April 12 – Washington Prime Group Inc. operating partnership Washington Prime Group, LP has agreed with its lenders and noteholders to extend the forbearance period to 11:59 p.m. ET on April 28 from a previous extension on April 9, according to an 8-K filing with the Securities and Exchange Commission.

The forbearance period was set to expire on April 14.

As previously reported, the company missed the $23.2 million interest payment on Feb. 15.

Additionally, in August of 2020, Washington Prime entered into amendments under its credit facilities that provide covenant relief through the third-quarter 2021, according to a previous Prospect News report.

Negotiations and discussions are ongoing with the forbearing noteholders and lenders to restructure the company’s capital structure.

The real estate investment trust is based in Columbus, Ohio.

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