Key Developments: Intu Properties PLC (INTUP.L)
12 Dec 2013
Latest Key Developments (Source: Significant Developments)
Capital Shopping Centres Group plc announced that an interim dividend for 2012 of 5.0 pence per ordinary share payable on November 20, 2012 (the Dividend). The Dividend will be paid totally as a Property Income Distribution. Full Article
Capital Shopping Centres Group plc announced the launch of an offering of GBP300 million of senior, unsecured Convertible Bonds due 2018 (the Bonds) with an option to increase the offering by an additional GBP50 million. The Company intends to use the net proceeds of the offering to improve its financing flexibility by: diversifying its funding sources; refinancing short term borrowings, including those relating to its recent acquisitions of the Broadmarsh Centre, Nottingham, and properties adjacent to its existing centres which provide additional development opportunities, such as King George V Dock and Centaurus Retail Park; and positioning CSC to advance its development pipeline and make further acquisitions. The Bonds are expected to be issued by Capital Shopping Centres (Jersey) Limited, a wholly owned subsidiary of the Company incorporated in Jersey (the Issuer), and will be guaranteed by the Company. The Bonds, which will have an expected maturity date of 04 October 2018, will be issued at par and are expected to carry a coupon of between 1.75% and 2.25% per annum payable semi-annually in arrear Full Article
Capital Shopping Centres Group plc announced that the Board of Director has declared to pay an interim dividend of GBP0.05 per share on November 20, 2012 to shareholders on the register on October 19, 2012. Full Article
Capital Shopping Centres Group plc announced that it has agreed terms on two proposed transactions (the Transactions) with the Peel Group: Acquisition for GBP4.7 million from Clydeport Properties Limited of a 30.96 acre site known as King George V Docks (West) adjacent to the Company's shopping centre at Braehead, Glasgow, which offers significant opportunities for future development in relation to the shopping centre and leisure activities at Braehead (the KGV Acquisition); and acquisition for EUR 2.5 million from Peel Holdings Limited of a three year option (the Option) alongside a refundable deposit of EUR7.5 million to purchase two parcels of land in the province of Malaga, Spain; an approximately 60 acre site which has initial planning consents for the construction of a high-class regional shopping centre and leisure development, and an adjacent approximately 14 acre site which is earmarked for possible future development. Full Article
LONDON, Nov 5 - British shopping centre owner Intu Properties said it may seek partners to help it fund its 1 billion pound ($1.6 billion) pipeline of projects, and said it was seeing strong demand from retailers for space as the economy recovers.