INTU PROPERTIES PLC - Intu announces issue and pricing of 110m of new Notes

Intu announces issue and pricing of £110m of new Notes

INTU PROPERTIES PLC
(Registration number UK3685527)
ISIN Code: GB0006834344
JSE Code:      ITU

25 FEBRUARY 2014
INTU PROPERTIES PLC


INTU ANNOUNCES ISSUE AND PRICING OF £110M OF NEW NOTES UNDER
THE EXISTING INTU TRAFFORD CENTRE COMMERCIAL MORTGAGE-
BACKED SECURITIES TRANSACTION

Intu Properties plc (“Intu”) announces the issue of £110m additional class A, B
and D notes (“New Notes”) under The Trafford Centre Finance Limited
Commercial Mortgage-backed Securities transaction (“intu Trafford CMBS”)
established in 2000.

The New Notes, which rank pari passu with the current outstanding class A, B
and D notes (“Existing Notes”), have an average maturity of nine years and are
priced at an average spread of 183 basis points over the relevant reference gilts
representing an all in cost of c. 4.6 per cent.

The New and Existing Notes are secured by intu Trafford Centre, the prime
super-regional shopping centre near Manchester. The ratings of each class of
Existing Notes, all of which are investment grade, remain unchanged and the
New Notes have newly assigned ratings at the same levels.

The aggregate of the New Notes and the Existing Notes have a combined note to
value of c. 45% based on a valuation of the secured assets of £1,821m at 12
February 2014. As at 12 February 2014 the combined intu Trafford Centre and
adjoining property outside the collateral pool was valued at £1,900m (30 June
2013 - £1,850m).

Credit Suisse and Lloyds are mandated to act as joint bookrunners.

The proceeds will be used to provide funds for Intu’s pipeline of active
management projects and major extensions.

Matthew Roberts, Finance Director of Intu Properties plc, commented:

“I am very pleased with this successful tap issue secured on intu Trafford Centre.
This is our third bond issue within 12 months and I am encouraged by the continuing
level of support we have received. We have some exciting development opportunities
at Intu and the proceeds will be used to help fund them.”
ENQUIRIES

Intu Properties plc
Matthew Roberts          Finance Director                                            +44 (0)20 7960 1353
Kate Bowyer              Business Relations Director                                 +44 (0)20 7960 1250

Public relations
UK:                      Michael Sandler/Wendy Baker, Hudson Sandler                 +44 (0)20 7796 4133
SA:                      Frédéric Cornet, Instinctif                                   +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.

In 2013, 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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