Print this page

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.

eProperty News

Latest from eProperty News

Related items