INTU Debentures - comment
We sound very much like a broken record when it comes to reporting INTU Debentures and INTU SGS numbers. There are no revised third-party valuations yet, but underlying the valuations is higher rent collection c.98% versus 90% in the Budget, balanced versus a continuation of rebasing rents and/or concession periods or flexible turnover-based arrangements. Occupancy rates remain strong allowing for the outstanding issues at the various Debenture sites.
Using Asset valuation as at December 2021, recovery is c. 45% There is a lender call which will be held on Monday 6th at 10 am.