Intu Properties Share Discussion Threads

[zcaprd7] 22/6/2020 08:19

Sounds like a deal to me, equity holders will get more than 5p out of it...

[hillofwad] 22/6/2020 06:47

There is no benefit whatsoever for bondholders who have ringfenced individual assets
to standstill The BODS at INTU have demonstrated all too clearly their failure to add value Plenty of professional shopping centre managers the bondholders can call on

In addition the prospect of obtaining the wafer thin equity



Moelis & Clifford Chance haven't been appointed by the bondholders to rollover !

As Jaknife said even if they do standstill the lenders want a slice of any equity SFA for shareholders

[smithers125] 21/6/2020 22:37

That’s the way I’m looking at it.

[zcaprd7] 21/6/2020 22:27

So, if nothing happens on Monday, they've struck a deal with the lenders?

[asagi] 21/6/2020 20:59

the trade press is reporting as per the link posted by JakNife:


"Board meeting due Monday to determine whether to appoint administrators"

this is important as the trade press is ALWAYS 24 hours ahead of the mainstream media. Better connections, better understanding and nous.

I wonder if we will get a suspensions from 7am "pending an announcement" and that be it until after the covenant test? Unless the board decides to go for administration, in which case we would get another RNS on Tuesday morning.

Asagi (short INTU)

[zcaprd7] 21/6/2020 10:07

Seems to be three groups in the covenant standstill, some happy with 18 months, some happy with 12 month and some paying hardball, and won't tolerate any standstill...

[loglorry1] 21/6/2020 09:21

MOST isn't enough it needs ALL lenders otherwise it's intu administration I'm afraid. The large 5p transaction at the close is ominous.

The banks and unsecured lenders won't want any value leaking to the secured if they take possession of the assets in each SPV. The secured lenders want to maximise recovery by taking the assets that they lent on. The only way for banks and unsecured to stop that is adminstration before the covenants are breached and the assets are gone.

[zcaprd7] 21/6/2020 08:24

"Most lenders want 12 month standstill agreemt, intu wants 18"Sounds rather promising?

[monte1] 19/6/2020 21:09

A total of 70m unloaded In 3 trades at around 5p into the close including a 25m uncrossing trade.

[maverick081267] 19/6/2020 20:39

Maybe the 38 and 25,mil sell had something to do with it...

[zen12] 19/6/2020 18:43

Showing 5p close...how can that be??

[hugotanha] 19/6/2020 15:31

Dead man walking

[sanks] 18/6/2020 13:55

Been wondering if this has the potential of a shaggers rally

[hpcg] 18/6/2020 11:24

It is just gravitating back to its final resting value. A combination of an entirely normal but irrational dead cat bounce, and a completely irrational spike based on an institution buying Hammerson shares is facing up to reality. Admin is inevitable, Watford council have been talking up their contingency plans for that location, Nottingham council given that Intu have stopped work on Broadmarsh, the Costa-Del-Sol partner looking for a quick distressed deal, everyone is navigating the best path for them.

[mcbull] 18/6/2020 08:09

or maybe not..........lol

[mcbull] 17/6/2020 16:26

Interesting intraday reversal..........news early tomorrow am?

[ericshunn] 17/6/2020 13:19

Didn't realise this was under construction. Thought INTU just have a 50% interest in a very expensive hole in the ground in near Malaga.

[zcaprd7] 17/6/2020 08:13

How about half, and half again, say £200m - it won't fix the balance sheet but it might keep the banks happy?

[zcaprd7] 16/6/2020 22:08

800 million euros according to the press release in January, what price Intu's bit, and at what valuation I wonder?

[zcaprd7] 16/6/2020 15:52

How much is that worth do we think?