Westfield bond raises £450m
The Australian owner of the Westfield London and Stratford City shopping centres has raised £450m to pay down some of its UK debts and release cash for new investments.
Westfield, which is vying to gain control of a shopping centre scheme in Croydon, returned to the sterling bond market yesterday after a seven-year absence with a £450m, 10-year issue. It is now focused on large-scale shopping centre developments and its plans for Croydon are part of this strategy.
This year it sold "non-core" shopping centres in Belfast, Tunbridge Wells and Guildford.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies