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Bank club finances 10 Upper Bank St as CWG’s early bond prepayment triggers £170m ‘lost interest’ claim

Barclays, Lloyds Bank and HSBC jointly provided a circa £440m five-year senior loan to finance the China Life-led consortium’s acquisition of 10 Upper Bank Street in Canary Wharf last Friday.
By James Wallace
June 26, 2014 | 7:30 P.M.

Canary Wharf Group (CWG), which developed the 32-storey tower in 2003, sold a 70% stake in 10 Upper Bank Street to China Life, the country’s largest insurance group with a balance sheet of more than £95bn, and a further 20% to Qatar Holding, the global investment house founded eight years ago by the Qatar Investment Authority (QIA).

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