The Canary Wharf Group recently launched its second securitization of properties on its huge Docklands site in London. Salomon Smith Barney structured the deal and also acted as bookrunner along with Morgan Stanley Dean Witter.

Called Canary Wharf Finance 2, the GBP475 million ($712 million) multi-currency deal is smaller than the first GBP555 million transaction, launched in November 1997. It will be backed by lease payments on three buildings currently occupied by Citibank, Credit Suisse First Boston and the oil company Texaco, as well as some additional retail outlets and parking spaces.

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