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INTU PROPERTIES PLC - Intu Announces the Launch and Pricing of 350m Sixteen Year Bond

Release Date: 06/11/2014 07:50
Code(s): ITU     PDF:  
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Intu Announces the Launch and Pricing of £350m Sixteen Year Bond

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

5 NOVEMBER 2014

INTU PROPERTIES PLC

INTU ANNOUNCES THE LAUNCH AND PRICING OF £350 MILLION SIXTEEN YEAR
BOND FOLLOWING THE TRANSFER OF INTU DERBY AND INTU CHAPELFIELD INTO
THE GROUP’S SECURED FUNDING STRUCTURE

Intu Properties plc (“Intu”) announces today a £350 million bond issue for Intu (SGS) Finance
plc following the transfer of the intu Derby and intu Chapelfield shopping centres into the
secured group structure (“SGS”) funding platform as provided for under the program
documentation. The £350 million sixteen year 4.25 per cent bond priced at a spread of 165
basis points over the relevant gilt.

In line with the rating of the existing bonds in the SGS the new bond is expected to be rated
as A(sf) by Standard & Poor’s. UBS and Lloyds Bank acted as joint bookrunners and the
bond will be listed on the Irish Stock Exchange.

On completion of this transaction the Group’s weighted average debt maturity will be 8.9
years (7.7 years - 30 June 2014) and the average cost of borrowing will be 4.7% (4.7% - 30
June 2014).

Matthew Roberts, Chief Financial Officer, commented:

“I am delighted with the successful launch and pricing of the bond. This is the first time we
have 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.”

Enquiries:

Intu Properties plc
Matthew Roberts           Chief Financial Officer                                                          +44 (0)20 7960 1353
Adrian Croft              Head of Investor Relations                                                       +44 (0)20 7960 1212

Public relations
UK:                       Michael Sandler/Wendy Baker, Hudson Sandler                                      +44 (0)20 7796 4133
SA:                       Frédéric Cornet, Instinctif Partners                                              +27 (0)11 447 3030

NOTES FOR EDITORS

Intu owns and operates many of the very best shopping centres, in many of the strongest locations right across the country,
including nine of the UK’s top 20. You can find the UK’s top retailers in our shopping centres, alongside some of the world’s
most iconic global brands.

With over 21 million sq ft of retail space, our centres attract over 400 million customer visits a year and more than half of the
UK population visit one of our centres each year.

At the forefront of UK shopping centre evolution since the 1970s, our focus is on creating compelling destinations for
customers with added theatre.
Our nationwide consumer facing shopping centre brand - intu - is transforming our customer experience and digital
proposition, including a transactional website with a view to providing the UK’s leading shopping centre experience both on
and off-line at 15 centres

We have an investment plan of £1.2 billion over the next ten years with projects at most of our centres.
Almost 100,000 people are employed at our centres across the UK and we are fully committed to supporting our local
communities and the wider environment through meaningful and hands-on initiatives.

For further information see www.intugroup.co.uk

This announcement contains “forward-looking statements” regarding the belief or current expectations of Intu Properties plc, its Directors and other members of its senior
management about Intu Properties plc’s businesses, financial performance and results of operations.

These forward-looking statements are not guarantees of future performance. Rather, they are based on current views and assumptions and involve known and unknown
risks, uncertainties and other factors, many of which are outside the control of Intu Properties plc and are difficult to predict, that may cause actual results, performance or
developments to differ materially from any future results, performance or developments expressed or implied by the forward-looking statements. These forward-looking
statements speak only as at the date of this announcement. Except as required by applicable law, Intu Properties plc makes no representation or warranty in relation to
them and expressly disclaims any obligation to update or revise any forward-looking statements contained herein to reflect any change in Intu Properties plc’s expectations
with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Any information contained in this announcement on the price at which shares or other securities in Intu Properties plc have been bought or sold in the past, or on the yield
on such shares or other securities, should not be relied upon as a guide to future performance.

Sponsor:
Merrill Lynch South Africa (Pty) Ltd

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