General Growth Properties Inc., the owner of Ala Moana Center and Ward Centers, said it is seeking another extension on $900 million of debt that matures today.

The Chicago-based company originally received a two-week extension on its debt payments Dec. 1.

The country's second-largest U.S. mall owner also announced today that it refinanced $814 million of mortgage loans and retired a $58 million bond in an attempt to stave off bankruptcy. The news sent General Growth's shares up 25 percent.

The refinancings affect mortgages scheduled to mature in 2009, the Chicago-based company said in a statement

Regarding the $900 million of debt that matures today, General Growth said: "There can be no assurance that the company will obtain these further extensions."