Canary Wharf Finance II plc (31PE), the English-incorporated issuer of secured mortgage debentures backed by Canary Wharf real estate assets, has informed noteholders that defeasance funds held in two ledger accounts were released to the borrower on 24 September 2026. These funds, drawn from the Class B3 Defeasance Ledger and the Class C2 Defeasance Ledger within the Coverage Account, will be allocated to capital expenditure at One Canada Square and 20 Bank Street. Rating agencies have confirmed that this release will not adversely impact the current credit ratings of any of the seven outstanding note classes.
Key Points
- Canary Wharf Finance II plc (31PE), registered in England and Wales under number 3929593
- Defeasance funds from Class B3 and Class C2 Defeasance Ledgers released to borrower on 24 September 2026
- Released funds earmarked for capital expenditure at One Canada Square and 20 Bank Street to maintain long-term asset value; exact amount undisclosed
- Investors advised to follow future noteholder updates on capital works progress and any credit rating revisions
Release of Class B3 and Class C2 Defeasance Ledger Funds in Accordance with Loan Agreement
On 24 September 2...