Intu Properties launches GBP485m bond offer

Posted On Thursday, 07 November 2013 14:40 Published by
Rate this item
(0 votes)

Intu Properties announces the launch of a proposed GBP485m bond to refinance existing debt facilities which are due to mature in February 2015

David Fischel Intu Properties

The bond will be secured on Intu Metrocentre‚ the prime super-regional shopping centre and retail park in Gateshead and the largest covered shopping and leisure centre in Europe.

The proposed transaction is to have a simple capital structure with opening loan to value ratio of about 55% and is expected to obtain an investment-grade rating‚ the company said HSBC and Lloyds Bank will be acting as joint bookrunners on the proposed bond issue and Rothschild is providing independent debt advice to The Metrocentre partnership.

The bond is expected to be listed on the Irish Stock Exchange.

Most Popular

A future-proof data centre environment is key to digital transformation in Africa

Aug 03, 2021
According to a recent report, Africa needs 700 data centre facilities to meet growing…

NSBE statement on the passing of its founding president - CV Gamede

Aug 03, 2021
As the National Society of Black Engineers South Africa (“NSBE SA”), we mourn the…

Vaal Mall is grateful

Jul 27, 2021
Vaal Mall shopping centre
We are inspired by the powerful message of hope sent by all those who stood together to…

SOKO launches at Rosebank Mall as part of Hyprop’s non-tangible strategy

Jul 29, 2021
SOKO_District_Town_Hall (1)
Hyprop announced that SOKO District will open its doors at Rosebank Mall on Friday 30…

MPCs accommodative approach positive for home buyers

Jul 22, 2021
Dr Andrew Golding portrait photograph (1)
Given the vulnerability of South Africa’s economy in the wake of last week’s unrest, as…

Please publish modules in offcanvas position.