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United States

Intu Properties PLC (INTUP.L)

INTUP.L on London Stock Exchange

229.90GBp
25 Sep 2017
Change (% chg)

-2.00 (-0.86%)
Prev Close
231.90
Open
231.90
Day's High
232.20
Day's Low
229.70
Volume
2,785,874
Avg. Vol
3,905,956
52-wk High
302.70
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228.27

Latest Key Developments (Source: Significant Developments)

Intu Properties says bonds due 2022 to be issued at par
Tuesday, 25 Oct 2016 07:28am EDT 

Intu Properties Plc : Announces successful pricing of an offering of 375 mln stg of guaranteed convertible bonds due 2022 .Initial conversion price is 3.7506 stg per share representing a premium of 30 pct above volume weighted average price of shares between launch and pricing.  Full Article

Intu raises guidance on growth in like-for-like net rental income for 2016
Thursday, 28 Jul 2016 02:05am EDT 

Intu Properties Plc : For first six months, a 10 percent increase in underlying earnings per share driven by growth in net rental income of 7.5 percent on like-for-like basis . Established retailers, Zara and Next, upsizing space and we have welcomed new lifestyle brands and international retailers . Expect growth to be weighted to first half of 2016 because of pattern of tenant events in year .Raising our guidance on growth in like-for- like net rental income for 2016 to 3 per cent to 4 per cent range.  Full Article

Intu Properties buys remaining 50 pct of Merry Hill Estate for 410 mln stg
Monday, 20 Jun 2016 07:05am EDT 

Intu Properties Plc : Acquisition of the remaining 50 per cent of the Merry Hill Estate for 410 million stg . Deal represents an income yield of 5.2 per cent, based on net rental income of 43 million stg. . Estate comprises Intu Merry Hill shopping centre, two retail parks, office and leisure uses along with development land. . Acquisition, which is scheduled to complete shortly, is expected to be earnings accretive from completion . 500 million stg loan has been arranged, with a 2018 maturity, which will replace current 191 million stg loan facility, maturing in 2017 .Pro forma loan to value increases to 43 per cent compared with 41 per cent at 31 March 2016.  Full Article

Intu Properties buys remaining 50 pct of Merry Hill Estate
Friday, 17 Jun 2016 12:16pm EDT 

Intu Properties Plc : Acquisition of remaining 50 per cent of merry hill estate for £410 million . Deal represents an income yield of 5.2 per cent, based on net rental income of £43 million. .Acquisition, which is scheduled to complete shortly, is expected to be earnings accretive from completion.  Full Article

Intu Properties confirms talks with Australia's QIC over Intu Merry Hill deal
Thursday, 16 Jun 2016 04:05am EDT 

Intu Properties Plc : Response to media comment . Intu confirms that it is in advanced discussions with QIC regarding potential acquisition of QIC's 50 per cent interest in Intu Merry Hill in West Midlands . If acquisition were to proceed, consideration is likely to be around 410 million pounds and would be funded through a combination of new debt and existing resources . Whilst discussions are ongoing, there can be no certainty that any transaction will be undertaken. .Acquisition would be funded through a combination of new debt and existing resources.  Full Article

BRIEF-Intu Properties HY underlying earnings declines

* HY NET RENTAL INCOME 226.2 MILLION POUNDS VERSUS 219.4 MILLION POUNDS A YEAR AGO