Tarragon announces reinstatement of over $550 mln of loans (TARR) 2.69 +0.36 : Co announces that it met the terms and conditions of the agreement with its largest lender, General Electric Capital Corporation, under which GECC has reinstated over $550 million in loans it has made to Tarragon and/or its affiliates. Tarragon is currently engaged in discussions with its other significant lenders regarding similar agreements. Tarragon's agreement with GECC and its ongoing negotiations with its other significant lenders are part of an overall plan designed to restore the company's liquidity and improve its financial condition. The plan currently contemplates additional property sales, the proceeds of which would be used to repay or bring current Tarragon's obligations under other loan agreements and to provide Tarragon with additional liquidity.
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