Capital & Counties boosts liquidity with £250m exchangeable

C&C_Covent_Garden_PA_575_375
By Aidan Gregory
19 Nov 2020

Capital & Counties Properties, the London landlord that owns large amounts of Covent Garden, is strengthening its liquidity position by issuing a £250m bond exchangeable into shares of Shaftesbury.

Shaftesbury, the London-listed West End landlord, recently completed its own £300m capital increase. Capital & Countries owns 25.2% of Shaftesbury and was one of the anchor investors in its recapitalisation, having built its stake through two cash injections in May and October this year.

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