Intu Properties says it is likely to be in breach of loan agreements
The struggling mall owner is seeking a debt standstill with lenders
18 May 2020 - 10:44
UK mall owner Intu Properties, which has been struggling with a R100bn debt pile, says it could be in breach its loan agreements in coming weeks as Covid-19 batters the property sector and prompts late rent payments from tenants.
Intu’s debt pile stood at almost £4.5bn (about R100bn) at the end of December 2019, which compares unfavourably with its market capitalisation of R1.3bn on Tuesday morning...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.