Debt-hit shopping centre firm Intu extends overdraft
(The Guardian Business News)

Lakeside owner thrown £440m lifeline but deal rests upon £1.3bn rights issueIntu Properties, the debt-laden owner of shopping centres, including the Trafford Centre in Manchester and Lakeside in Essex, has won some breathing space by agreeing an extension to its overdraft facility.The seven banks providing Intu with its revolving credit facility have agreed to a new four-year £440m overdraft, conditional upon the firm raising at least £1.3bn in a rights issue. Continue reading...