trending Market Intelligence /marketintelligence/en/news-insights/trending/MvdrohSNyxantYa3ltjOIQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Intu Properties confirms plans for an equity raise in February

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Real Estate

Real Estate Solutions Overview


Intu Properties confirms plans for an equity raise in February

Intu Properties PLC confirmed that it plans to hold an equity raise alongside its full-year 2019 results at the end of February.

The Sunday Times had reported that the shopping center company was considering raising about £1 billion to support its precarious financial situation. Intu's balance sheet is laden with £4.7 billion of debt and the company had indicated in November 2019 that fixing its balance sheet was its top priority.

The company's share price has declined as tenants Arcadia and Debenhams closed their shops and cut their rents due to insolvencies. Both retailers occupied major spaces in Intu's buildings.

In December 2019, Intu sold one of its Spanish shopping centers as its debt-to-asset ratio increased.

Peel Group's John Whittaker supports the fundraising plan, The Sunday Times reported. Peel Group owns a 27.3% stake in Intu. Intu CEO Matthew Roberts has been in discussions with other shareholders including South African fund manager Coronation and European private equity firm Orion, hoping to get their backing, the publication added.