PEI - Pennsylvania REIT stock jumps 19% as it emerges from Chapter 11

Pennsylvania REIT shares (PEI) gain 19% in premarket trading after the REIT emerges from Chapter 11 proceedings.Consistent with previous disclosures, PEI now has access to up to $130M of new capital to support its operations and advance its plans.Also, PEI's debt maturity schedule has been extended, giving the company enhanced financial flexibility.During the restructuring proceedings, PEI's suppliers and other trade creditors and business partners were unimpaired and all suppliers have been, and will continue to be paid in full, the company said.The shopping center REIT filed for Chapter 11 bankruptcy proceedings on Nov. 1 to implement a prepackaged financial restructuring plan.

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Pennsylvania REIT stock jumps 19% as it emerges from Chapter 11