LONDON (Reuters) – London's Canary Wharf enterprise district stated on Tuesday it had agreed to borrow 610 million kilos ($777 million) from U.S. funding big Apollo to repay its bonds due over the following two years.
Landlord Canary Wharf Group (CWG) has confronted buying and selling difficulties because the COVID-19 pandemic, with altering methods of working resulting in the departure of key tenants together with HSBC. He stated the financing settlement confirmed robust assist from lenders for the district.
CWG stated the mortgage was secured by shoppers and funds managed by Apollo throughout nearly all of its 1.2 million sq ft retail portfolio. After paying off bonds due in April 2025 and 2026 with the transaction proceeds, the proprietor stated it now has no important refinancing till 2028.
($1 = 0.7850 kilos)
(This story has been refiled so as to add the phrase “million” within the headline)
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