Member Article

Intu secure £485 million bond on Metrocentre

Metrocentre owners, Intu Properties plc, have secured a £485 million bond to refinance debt, which will be secured on the Gateshead shopping centre.

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.

Earlier this week Intu posted a trading update in which it reiterated £1 billion investment plans across its portfolio of shopping centres.

The firm’s existing debt facilities were due to mature in February 2015.

This was posted in Bdaily's Members' News section by Tom Keighley .