On some assets, the LTV is not far off the covenants (usually 65%). The 57.6% on the full consolidated scope reached in H1 19 will put the balance sheet at risk in the coming half-years. As we suppose that the lenders will not maintain such favourable covenants during the hard refinancing period of 2021-23, Intu will therefore be virtually short of cash by this horizon.
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Nearer to a capital increase
- Published:
31 Jul 2019 -
Author:
Christian Auzanneau -
Pages:
4
On some assets, the LTV is not far off the covenants (usually 65%). The 57.6% on the full consolidated scope reached in H1 19 will put the balance sheet at risk in the coming half-years. As we suppose that the lenders will not maintain such favourable covenants during the hard refinancing period of 2021-23, Intu will therefore be virtually short of cash by this horizon.