Canary Wharf overcomes office return fears with triple-tranche debut bond

By Mike Turner
31 Mar 2021

Canary Wharf made its debut in the corporate bond market 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/—/BBB-, took a week between mandating Morgan Stanley as sole bookrunner and opening books on Tuesday.

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

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