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Investors said the deal gives Scentre balance sheet flexibility as it navigates through the disruption to its rent collection, battles with tenants, flat sales and the drop in the value of its malls.
Scentre reported a $3.6 billion interim loss which was driven by a reduction of $4 billion in value across its malls.
The Westfield malls’ owner said the cash from the raising would be used to shore up its balance sheet, repay shorter-term debt facilities and provide funding for longer-term security as it battles the impact on its business from the global pandemic.
The owner of the overseas-based Westfield malls, Unibail-Rodamco-Westfield, on Wednesday separately announced it was also undertaking a 9 billion ($14.5 billion) balanc…
Read the full article at: https://www.smh.com.au/business/companies/scentre-taps-debt-markets-for-4-billion-to-fight-pandemic-20200917-p55wis.html
