UPDATE 2-UK's Intu Properties considers raising equity to tackle debt in blow to shares [Reuters]
BRITISH LAND CO S/ADR (BTLCY)
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Source: Reuters
UPDATE 2-UK's Intu Properties considers raising equity to tackle debt in blow to shares - Reuters 3 Min Read * Considering equity raising to fix balance sheet * Expects 2019 comparable net rental income to fall 9% * Says CVAs “slightly” worse than expected * Stock falls nearly 18%, hitting others in sector (Recasts, adds details on cash call, debt, CEO comments) By Samantha Machado and Pushkala Aripaka Nov 6 (Reuters) - British shopping centre operator Intu Properties said on Wednesday it could raise equity, alongside asset sales, to tackle its debt burden, knocking nearly 18% off its share price. “Our number one priority is to fix the balance sheet ... options include disposing of assets, where we are in the advanced stages of selling two of our Spanish assets, through to raising equity,” Matthew Roberts, Intu’s chief executive, said. Intu shares were down 14% at 0941 GMT after the owner of Manchester’s Trafford Centre also said it expects annual like-for-like net rental income to be
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