Canary Wharf Group has been given the green light by its bondholders to raise new debt, enabling the refinancing of around £600 million ($760 million) in maturing notes. This comes as the London docklands developer looks to fulfill its financial obligations, including the refinancing of 2026 notes and £350 million in bonds set to mature in April.
The owners of Canary Wharf, Qatar Investment Authority and Brookfield Corp., have actively engaged with investors to obtain this permission. Furthermore, the company has stated that other bonds maturing in 2028 will be extended in due course, indicating a strategic approach to managing its debt portfolio.
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