Canary Wharf Group has secured a significant refinancing deal worth £610 million ($778 million) from Apollo Global Management Inc.

The loan, which has a duration of five years, will help the company address upcoming bond maturities in April 2025 and 2026.

The financing is supported by the group's extensive portfolio of mostly underground retail spaces, which currently have an occupancy rate of around 97%.

This high occupancy rate reflects the strong demand from retailers who want to take advantage of the affluent working and residential population in the financial district of east London.

The specific terms of the loan have not been disclosed, but the refinancing is considered a crucial step for Canary Wharf Group in managing its financial obligations.