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Intu Announces Proposed £485m Bond Issue Secured On Intu Metrocentre
INTU PROPERTIES PLC
(Registration number UK3685527)
ISIN Code: GB0006834344
JSE Code: ITU
6 NOVEMBER 2013
INTU PROPERTIES PLC
INTU ANNOUNCES PROPOSED £485M BOND ISSUE SECURED ON INTU
METROCENTRE
Intu Properties plc (“Intu”) today announces the launch of a proposed £485 million bond
to refinance existing debt facilities which are due to mature in February 2015.
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 c. 55% and is expected to obtain an investment grade rating.
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.
ENQUIRIES
Intu Properties plc
Matthew Roberts Finance Director +44 (0)20 7960 1353
Kate Bowyer Head of Investor Relations +44 (0)20 7960 1250
Public relations
UK: Michael Sandler/Wendy Baker, Hudson Sandler +44 (0)20 7796 4133
SA: Frédéric Cornet/Cara White, College Hill +27 (0)11 447 3030
Sponsor:
Merrill Lynch South Africa (Pty) Limited
NOTES FOR EDITORS
Intu Properties plc (formerly Capital Shopping Centres Group PLC) is the UK’s market-leading developer, owner
and manager of prime regional shopping centres. Intu owns and operates some of the very best shopping
centres, in the strongest locations right across the UK, including ten of the country’s top 25. Every one of the
UK’s top 20 retailers is in Intu’s shopping centres, alongside some of the world’s most iconic global brands.
With over 17 million sq ft of retail space valued at over £7 billion, Intu’s 16 centres attract some 350 million
customer visits a year and two thirds of the UK population live within a 45 minute drive time of one of the centres.
At the forefront of UK shopping centre evolution since the 1970s Intu’s focus is on creating compelling
destinations for consumers with added theatre.
On 15 January this year, the company announced the creation of a nationwide consumer facing shopping centre
brand – intu – and the transformation of the Group’s digital proposition including a transactional website, to
provide the UK’s leading shopping centre experience on and off-line.
Intu has a UK investment programme of £1 billion over the next ten years on active management projects and
major extensions at most of the centres. Funding for this programme will include recycling of existing assets as
well as the possible introduction of partners into major assets.
Intu also has interests outside the UK including an effective interest of 9 per cent in Equity One, a US retail REIT,
a 32 per cent interest in Prozone, an Indian shopping centre developer, and a joint venture in Spain for pre-
development activity on three major sites under option, in Malaga, Valencia and Vigo. In October 2013 Intu
acquired, with a partner, a regional shopping centre in Northern Spain for €162 million.
Over 80,000 people are employed at Intu centres across the UK and the company is fully committed to
supporting local communities and the wider environment through meaningful and hands-on initiatives.
For further information see www.intugroup.co.uk
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