WPG - Washington Prime Group extends forbearance agreements for a sixth time

Washington Prime Group (WPG) gets another week-long extension to its forbearance agreement with certain noteholders and lenders.The noteholders and lenders agreed to extend the forbearance pacts to May 26, 2021 at 11:59 PM.WPG said it's continuing negotiations with both groups to restructure its capital structure.The mall REIT has been deferring interest payments on its senior notes since Feb. 15, 2021. In connection with the negotiations, WPG incurred ~$14.5M of legal and professional fees through March 31, 2021.Last week, the board suspended its Q2 dividends on common shares and operating partnership units as well as Series H and Series I preferred shares and Series I-1 preferred units of Preferred Limited Partnership Interest.

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Washington Prime Group extends forbearance agreements for a sixth time