Key Developments: Intu Properties PLC (INTUP.L)

INTUP.L on London Stock Exchange

17 Apr 2015
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Latest Key Developments (Source: Significant Developments)

Intu Properties Plc updates on payment of dividend
Tuesday, 24 Mar 2015 11:40am EDT 

Intu Properties Plc:Updates on payment of final dividend of 9.1 pence per share.Payable on May 28.  Full Article

Intu Properties Plc recommends final dividend
Friday, 27 Feb 2015 02:00am EST 

Intu Properties Plc:Is recommending a final dividend of 9.1 pence per share bringing the amount paid and payable in respect of 2014 to 13.7 pence, unchanged from 2013 as adjusted to reflect the 2014 rights issue.  Full Article

Intu Properties Plc announces acquisition of Puerto Venecia Shopping Centre
Wednesday, 24 Dec 2014 02:00am EST 

Intu Properties Plc:Says that it has exchanged contracts with an entity indirectly fully owned by the Orion European Real Estate Fund III C.V. to acquire Puerto Venecia shopping centre and retail park in Zaragoza, Spain for e451 mln.This represents net initial yield of 5.0 pct based on net rental income of e22.4 mln.Eurofund, our development partner in Spain, was closely involved in the original development of this award winning centre which opened in 2008 (retail park) and 2012 (shopping centre).Says e225 million bridging loan has been obtained from HSBC, which Intu can exchange for a five year term loan secured on the asset, with the all-in cost of debt estimated to be around 3.5 pct.The balance of consideration will be met from Intu's existing resources.The acquisition, which is scheduled to complete in Jan. 2015, is expected to be earnings accretive.  Full Article

Intu Properties Plc announces launch and pricing of 350 mln pounds bond
Wednesday, 5 Nov 2014 11:31am EST 

Intu Properties Plc:Says 350 mln pounds 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.Says the 350 mln pounds 16 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 pct (4.7 pct - June 30).  Full Article

Intu Properties Plc announces signing of new 600 mln Pound revolving credit facility
Friday, 31 Oct 2014 03:00am EDT 

Intu Properties Plc:Places new corporate 600 mln Pound revolving credit facility.Says New RCF replaces existing 375 mln Pound facility that was due to expire in Nov. 2018.New RCF has been provided by seven banks including all the providers of the current facility being Bank of America Merrill Lynch, Credit Suisse, HSBC, Lloyds Banking Group and UBS with Barclays and the Royal Bank of Scotland now joining.New RCF facility has minimum term of five years out to Oct. 2019 with ability to extend this by further two years subject to certain conditions being met and approvals received.  Full Article

Intu Properties PLC to pay an unchanged interim dividend
Thursday, 31 Jul 2014 02:02am EDT 

Intu Properties PLC:Directors have resolved to pay an unchanged interim dividend of 4.6 pence per share on Nov. 25 to shareholders on register on Oct. 24.  Full Article

Intu Properties PLC announces formation of joint venture with KWAP at Intu Uxbridge
Thursday, 5 Jun 2014 07:13am EDT 

Intu Properties PLC:Says it has entered into a joint venture agreement in respect of intu Uxbridge.Says Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has acquired an 80 pct interest in intu Uxbridge for 175 mln pounds, representing two pct premium to its Dec. 31, 2013 valuation of 213.9 mln pounds (100 pct basis).Intu retains 20 pct interest and will continue to manage the centre on behalf of the joint venture.Transaction is in line with Intu's stated strategy of recycling capital into its 1.2 bln pounds development pipeline and demonstrates our capability to grow the scale of our business under the nationwide intu shopping centre brand.Intu will repay existing bank debt and terminate associated swaps amounting to around 155 mln pounds in aggregate.Net rental income for intu Uxbridge for the year ended Dec. 31, 2013 was 11.7 mln pounds.  Full Article

Intu Properties plc completes acquisition of interest
Thursday, 1 May 2014 07:06am EDT 

Intu Properties plc:Completes acquisition of 50 percent interest in Westfield Merry Hill shopping centre, 100 percent interest in Westfield Derby shopping centre and 100 percent interest in Sprucefield retail park.  Full Article

Intu Properties plc announces issues of shares
Tuesday, 22 Apr 2014 02:01am EDT 

Intu Properties plc:Says 2 for 7 rights issue of 278,241,628 ordinary shares of 50 pence each in the share capital of the company at 180 pence or 32.28 rand per New Share announced on 20 March 2014 closed for acceptances at on April 17.Says it received valid acceptances in respect of 275,493,790 new shares, representing about 99.0 pct of the total number of New Shares offered to qualifying shareholders pursuant to the fully underwritten rights issue.  Full Article

Intu Properties Plc updates on final dividend
Thursday, 20 Mar 2014 03:36am EDT 

Intu Properties Plc:Says on Feb. 28, the directors proposed a final dividend for 2013 of 10.0 pence per share.Announces Payment date May 20.  Full Article

BRIEF-Intu exercises options to buy land in Spain

* Shareholder meeting in respect of exercise of option to acquire site for prime retail and leisure resort in Spain

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