WASHINGTON -- Shares of troubled mall operator General Growth Properties Inc. rose today after the company agreed with lenders on a six-week extension on debt that had been scheduled to mature last week.

Shares rose 20 cents, or 30.8 percent, to close at 85 cents.

Chicago-based General Growth, whose Hawaii properties include Ala Moana Center and Ward Centers, is saddled with huge amounts of debt it took on during the real-estate market's boom years when it aggressively bought up properties. Refinancing that debt has proven difficult amid the global credit crunch.

The company announced the agreement Friday night as a deadline on the loans was expiring. The new deadline is March 15.