Brookfield commits £900mn to backstop Canary Wharf refinancing

Quick Summary:

CWG’s loan-to-value ratio rose above its 50 per cent target to 55 per cent at the end of June — up from 52 per cent at the end of last year.

Property values have fallen sharply over the past two years, hit by higher interest rates and fears about office demand given hybrid working.

Raising new debt on the shopping complex and paying off the first two bonds of £350mn and €300mn would leave it with no debt deadlines until 2028.

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Article Details

Author / Journalist: Joshua Oliver

Category: MarketsFinanceInvesting

Markets: United StatesQatar

Topics: Secured Canary Bonds Provide Financial Debt Interest £900mn Moody’s Brookfield Cent

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-22 @ 18:10:00 (14 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 524 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23769671

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About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 12 posts per day

Year Established: 1888

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News Last Updated: 10 hours ago

Coverage Areas: United States

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