May 1, 2020 / 6:31 AM / a month ago

Intu secures debt waivers till late June

May 1 (Reuters) - UK mall operator Intu Properties said on Friday it had secured debt waivers from its creditors until June 26 as it struggles to ride out a collapse in rental payments from retailers shut for the coronavirus lockdowns.

The company also said it was appointing David Hargrave as its chief restructuring officer. The Times and other UK media reported this week that bondholders were drawing up plans to take control of shopping centres against which their debt is secured if the company defaulted. (Reporting by Yadarisa Shabong in Bengaluru; editing by Patrick Graham)

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