Last checked at 9 Sep 2009 13:47
9 September 2009
CAPITAL & REGIONAL PLC
MALL FUND ANNOUNCES BOND CONSENT SOLICITATION PROCESS
Capital & Regional plc ("Capital & Regional"), the co-investing property asset manager, notes the announcement today by Mall Funding Plc (the "Issuer") of a Note holder consent solicitation process. The consent solicitation seeks approval from Note holders to permit the Mall Limited Partnership (the "Borrower") and/or affiliates of the Borrower to purchase up to £150,000,000 in aggregate principal amount of Notes and enter into certain other related transactions (the "Proposals"). Should the Note holders approve the changes being sought to the terms of the Notes, the Issuer and the Borrower may or may not decide to implement these Proposals. The potential buy back of the Notes will benefit both noteholders and equity investors by reducing debt in an economic and efficient manner.
Capital & Regional has a 16.7% interest in the Mall Fund.
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For further information:
| Capital & Regional: | Tel: 020 7932 8000 |
| Charles Staveley, Group Finance Director | |
| Maitland | Tel: 020 7379 5151 |
| Martin Leeburn / Emma Burdett |