THE OWNER of Eldon Square and the Metro Centre is to make a £300m bond offering to provide it with more cash for acquisitions.
Capital Shopping Centres (CSC), which runs 14 major shopping centres, said the offering would also be used to diversify its funding sources and refinance its short term borrowings.
That includes the recent acquisitions of the Broadmarsh Centre, Nottingham, and properties adjacent to its existing centres which provide additional development opportunities.
There will also be the option to increase the offering by an extra £50m and the bonds are due to mature in 2018.
CSC also announced that it has acquired a 17 acre site next to the Metrocentre in a £3m deal.