London landlord Shaftesbury taps investors for £300m

By Aidan Gregory
22 Oct 2020

Shaftesbury, the UK real estate investment trust that owns swathes of London’s West End, is tapping its shareholders for almost £300m ($392m) amid a severe downturn in the theatre district because of the Covid-19 pandemic.

The proceeds of the transaction will be used to strengthen the company’s balance sheet until a recovery materialises. About £100m of the capital raised will be used to repay the balance of a revolving credit facility from 2018.

Shaftesbury is highly exposed to the Covid-19 pandemic and the imposition of lockdown measures by the ...

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