Limited take-up of Canary Wharf II buyback

April 15, 2009 12:00 am

Songbird Estates has bought back £119.8m notional out of £504m junior bonds from Canary Wharf Finance II after it increased the invitation amount to cover all validly tendered notes. It paid a total of £35.5m for the bonds. EuroWeek on Friday analyses the outcome of recent CMBS buybacks and reports on whether investors should expect more in future.

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