CWG secures over half a billion in extended maturities and loans including for serviced apartment developments

Canary Wharf Group plc (CWG) has secured £553m of financing, including for two serviced apartment developments.

The financings consisted of £132.3m secured on 15 and 20 Water Street, £341m secured on 25 Churchill Place extending the loan until July 2030, and an £80m loan for construction of two new serviced apartments buildings for short and medium stays at three and 15 West Lane.

The series of financings is planned to give CWG increased financial flexibility to implement its transformation plan, as well as increase debt maturities to increase longer-term funding certainty.

The news follows Morgan Stanley recently extending its lease with CWG on its 547,000 sq ft EMEA headquarters until 2038, while Barclays and Citi also recommitted to Canary Wharf.

Becky Worthington, CFO at CWG, said: “These loans are testament to the strength of our assets, the transformation that has been taking place at Canary Wharf and the support we have from our lenders for our long-term plan.

“With the opening of Middle Dock later this year, our exciting joint venture with the Eden Project, Canary Wharf will become an even more attractive environment to live and work.”


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