UK Markets open in 55 mins

Intu seeks debt waivers, govt support as coronavirus hits rents

·1-min read

March 26 (Reuters) - Mall operator Intu has received less than a third of rents due this month from its tenants and will need to seek leeway from its lenders on existing debt commitments, as well as seek aid from the government's coronavirus support schemes, the company said on Thursday.

The owner of Trafford Centre said it had 184 million pounds in cash immediately available to it, and Intu expects to receive 95 million pounds in proceeds from the disposal of intu Puerto Venecia in Spain in May. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Bernard Orr)