Intu takes outstanding Trafford CMBS debt to £825.9m

Intu Properties successfully raised another £110m through its Intu Trafford CMBS platform, bringing the total outstanding debt secured by the UK shopping centre to £825.9m.

  • By Joseph McDevitt
  • 26 Feb 2014

Lead managers Credit Suisse and Lloyds were able to price the three tranches either flat to the Trafford Centre secondary curve, or in the case of the ‘A4’ tranche with a small new issue premium.

The £20m five year ‘A4’ tranche, which is rated Aaa/AA+/AAA (Moody’s/S&P/Fitch) was priced ...

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2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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5 Credit Suisse 69,442.99 183 6.53%