Home Capital markets
Capital markets
The Eastern European property group has raised debt for offices as part of a €600m financing package.
HSBC’s exit from Canary Wharf is not a death knell for the estate. But it highlights problems facing those invested in the former financial hotspot.
The Swedish property company’s chief executive says alternative lenders will be thwarted in their attempts to break into the bank-dominated market.
CIM Group will follow a strategy similar to what it does it the US in which it works as a partner for banks.
The loan, which is secured by properties owned by the manager’s Sponda platform, has been placed into special servicing.
The rating agency says refinancing risk is particularly severe for sterling-denominated loans within securitisations.
As huge bond repayments loom, the country’s property companies are looking for alternative sources of finance.
As a new economic reality comes into focus, real estate companies will be working with much uncertainty in the months ahead.
Loans coming to maturity in the next two years will be hard hit by interest rate rises and decreasing loan-to-values, respondents said.
The UK’s economic course under prime minister Liz Truss is uncertain at a time of significant headwinds.