6 APRIL
2018
INTU PROPERTIES PLC
LEI: 213800JSNTERD5CJZO95
Regulated Information Classification: Additional
regulated information required to be disclosed under the laws of a
Member State of the EU.
AMENDMENT AND EXTENSION OF PUERTO
VENECIA TERM LOAN
intu properties plc (‘intu’) announces an amendment and
extension to the €225 million term loan secured on Puerto Venecia shopping centre in Zaragoza,
Spain. The centre is jointly owned
with Canada Pension Plan Investment Board.
Following negotiations with lenders, the margin on the loan has
been reduced by 120 basis points compared to the existing facility
and the maturity date has been extended from 2019 to 2025. The loan
will be hedged for its full value and tenor.
Matthew Roberts, chief financial
officer of intu, commented:
“We have worked closely with our relationship banks on the
margin reduction and extension of this loan and we are pleased to
have been able to secure these revised terms. This is a further
example of the refinancing work we have been doing over the last
few years at intu to reduce our weighted average cost of debt and
increase the debt maturity profile.”
ENQUIRIES
intu properties
plc |
Matthew Roberts |
Chief Financial Officer |
+44 (0)20 7960
1353 |
Hugh Ford |
General Counsel & Group
Treasurer |
+44 (0)20 7960
1207 |
Adrian Croft |
Head of Investor Relations |
+44 (0)20 7960
1212 |
|
NOTES FOR EDITORS
intu owns and manages some of the best shopping centres, in some
of the strongest locations, in the UK and Spain.
Our UK portfolio is made up of 17 centres, including eight of
the top 20, and in Spain we own
three of the country’s top 10 centres, with advanced plans to build
a fourth.
We are passionate about creating compelling experiences, in
centre and online, that make our customers smile and help our
retailers flourish.
We attract over 400 million customer visits and 26 million
website visits a year offering a multichannel approach that truly
supports retail strategies. In 2017, we launched the UK’s first
tailor-made promotional services model to help brands as they look
to optimise their portfolio or expand their UK coverage.
Our strategic focus on prime, high-footfall flagship
destinations, combined with the strength and popularity of our
brand, means that intu offers enhanced footfall, dwell time and
loyalty. This helps our retailers flourish, driving occupancy and
income growth.
We are committed to our local communities, with our centres
supporting over 120,000 jobs (representing about 3 per cent of the
total UK retail workforce), and to operating with environmental
responsibility. We have already met or exceeded a significant
number of our 2020 environmental targets.