Key Developments: Intu Properties PLC (INTUP.L)
14 Mar 2014
Latest Key Developments (Source: Significant Developments)
Reuters reported that a stake in one of Britain's shopping centers may be sold for about GBP430 million pounds ($687 million), as the owner taps demand from overseas buyers for the real estate. Capital Shopping Centres Plc is exploring the sale of a quarter stake in the Trafford Shopping Centre in Manchester worth about GBP430 million based on the mall's GBP1.73 billion valuation in June. Full Article
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
LONDON, Feb 28 - British shopping mall owner Intu Properties, said full-year net asset value fell 3 percent, hit by the costs of financial restructuring and an equity placing, and forecasted rental income to further decline this year.