Intu Properties announces launch of GBP350m 16-year bond

Posted On Thursday, 06 November 2014 16:02 Published by
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International property group Intu Properties announces the launch of a GBP350m 16-year bond.

David Fischel Intu Properties

This follows "the transfer of the intu Derby and intu Chapelfield shopping centres into the secured group structure"‚ the company said. The company said the 4.25% bond would be priced at a "spread of 165 basis points over the relevant gilt".

Intu chief financial officer Matthew Roberts said this was the first time the company had transferred additional assets into the secured group structure‚ and raised new debt within it‚ since establishing it in 2013.

"The transaction confirms the flexibility of the secured group structure as an important funding vehicle for the group. The level of demand shown by investors at a competitive rate continues to demonstrate the attractiveness of our prime assets‚" Mr Roberts said.

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