The Mall Fund is seeking to buy back £150m of its £1.2bn securitised debt which is secured against 21 assets held in the Fund.
The issuer of the Mall Funding commercial mortgage backed securities vehicle said it was seeking approval from bondholders ito buy back the debt. It said the transaction would allow it to effectively reduce its debt.
It said: ‘The potential buy back of the notes will benefit both noteholders and equity investors by reducing debt in an economic and efficient manner.’
The £1.35bn Mall Fund is jointly managed by Capital & Regional, which holds a 16.7% stake, and Aviva Investors.
Bondholders will vote on the proposal on 2 October.