WPG - Washington Prime stock dips after report on bankruptcy financing talks

Washington Prime Group (WPG) falls 10% in late trading after Bloomberg News reports the shopping mall owner's investment bank has approached investors to gauge early interest in providing a potential $150M in bankruptcy financing.Last week, WPG confirmed that it was in talks to restructure its balance sheet and that such a restructuring could be in the form of Chapter 11 bankruptcy. The company, which owns ~100 malls in the U.S., missed a Feb. 15 interest payment; its forbearance agreement with creditors ends at the end of this month.The negotiations are ongoing and terms could still change, Bloomberg reported, citing people with knowledge of the discussions.

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Washington Prime stock dips after report on bankruptcy financing talks