Finance
London's Canary Wharf turns to Apollo for $777 loan refinancing deal
Published by Global Banking & Finance Review®
Posted on December 10, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 10, 2024
1 min readLast updated: January 27, 2026
Canary Wharf Group secures a $777 million loan from Apollo to refinance bonds due in 2025 and 2026, addressing challenges from changing work patterns.
LONDON (Reuters) - London's Canary Wharf business district said on Tuesday it had agreed to borrow 610 million pounds ($777 million) from U.S. investment giant Apollo to repay bonds due over the next two years.
Landlord Canary Wharf Group (CWG) has faced challenging trading since the COVID-19 pandemic, with changing working patterns driving the departure of key office tenants including HSBC. It said the financing deal showed strong support from lenders for the district.
CWG said the loan was secured with clients and funds managed by Apollo against the majority of its 1.2 million square feet retail portfolio. After repaying the bonds due in April 2025 and 2026 with the proceeds, the landlord said it now had no further material refinancings until 2028.
($1 = 0.7850 pounds)
(Reporting by Iain Withers; Editing by Tommy Reggiori Wilkes)
The article discusses Canary Wharf Group securing a $777 million loan from Apollo to refinance bonds due in the next two years.
Canary Wharf is refinancing to manage bonds due in 2025 and 2026, amid challenges from changing office tenant dynamics post-COVID.
The loan is provided by U.S. investment giant Apollo, secured against Canary Wharf's retail portfolio.
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