Intu proposes £110m Trafford Centre bond

Mall group Intu Properties today announced the launch of £110m additional bonds secured against the Trafford Centre.

The new notes extend the existing Trafford Centre Finance Limited Commercial Mortgaged-backed Securities transaction established in 2000.

Intu told the London Stock Exchange: "The proceeds will be used to provide funds for Intu's pipeline of active management projects and major extensions."

As at 31 December 2013 the combined Intu Trafford Centre and adjoining property outside was valued at £1.9bn, up by £50m from 30 June 2013.

Credit Suisse and Lloyds Bank will be acting as joint bookrunners on the proposed bond issuance.

Shares in Intu were unchanged at 317p.

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