INTU.L Regulatory News (INTU)

Intu Properties plc - Amendment and Extension of Puerto Venecia Term Loan

PR Newswire

London, April 6

6 APRIL 2018

INTU PROPERTIES PLC

LEI: 213800JSNTERD5CJZO95

Regulated Information Classification: Additional regulated information required to be disclosed under the laws of a Member State of the EU.

AMENDMENT AND EXTENSION OF PUERTO VENECIA TERM LOAN

intu properties plc (‘intu’) announces an amendment and extension to the €225 million term loan secured on Puerto Venecia shopping centre in Zaragoza, Spain. The centre is jointly owned with Canada Pension Plan Investment Board.

Following negotiations with lenders, the margin on the loan has been reduced by 120 basis points compared to the existing facility and the maturity date has been extended from 2019 to 2025. The loan will be hedged for its full value and tenor.

Matthew Roberts, chief financial officer of intu, commented:

“We have worked closely with our relationship banks on the margin reduction and extension of this loan and we are pleased to have been able to secure these revised terms. This is a further example of the refinancing work we have been doing over the last few years at intu to reduce our weighted average cost of debt and increase the debt maturity profile.”

ENQUIRIES

NOTES FOR EDITORS

intu owns and manages some of the best shopping centres, in some of the strongest locations, in the UK and Spain.

Our UK portfolio is made up of 17 centres, including eight of the top 20, and in Spain we own three of the country’s top 10 centres, with advanced plans to build a fourth.

We are passionate about creating compelling experiences, in centre and online, that make our customers smile and help our retailers flourish.

We attract over 400 million customer visits and 26 million website visits a year offering a multichannel approach that truly supports retail strategies. In 2017, we launched the UK’s first tailor-made promotional services model to help brands as they look to optimise their portfolio or expand their UK coverage.

Our strategic focus on prime, high-footfall flagship destinations, combined with the strength and popularity of our brand, means that intu offers enhanced footfall, dwell time and loyalty. This helps our retailers flourish, driving occupancy and income growth.

We are committed to our local communities, with our centres supporting over 120,000 jobs (representing about 3 per cent of the total UK retail workforce), and to operating with environmental responsibility. We have already met or exceeded a significant number of our 2020 environmental targets.