Loan facility: A shopper ascends an escalator at the Lakeside shopping centre, operated by Intu. The company’s current agreement with the seven banks that provide its £600mil revolving credit facility is due to expire on June 26. — Bloomberg
LONDON: Intu Properties Plc has warned it will be forced into administration if talks with lenders to agree a standstill agreement fail to progress.
The company’s current agreement with the seven banks that provide its £600mil (US$747mil) revolving credit facility is due to expire on June 26 and the lenders have yet to agree an extension, the company said in a statement.
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