Canary Wharf green bond overcomes office fears

AdobeStock_CanaryWharf_575x375_Oct2020
By Mike Turner
30 Mar 2021

Canary Wharf made its debut in the bond markets in its present form on Tuesday, with a green triple tranche bond in euros and sterling that found plenty of demand, despite the rocky future for office space.

Canary Wharf Group Investment Holdings, rated Baa3/Nr/BBB-, took a week between mandating Morgan Stanley as bookrunner and opening books on Tuesday.

In that time, it spoke to around 130 investors. Feedback suggested a five year euro tranche at the low 200s over mid-swaps, a four year sterling at mid-200s ...

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