New World Development Co. запускает обмен облигацией на 991 миллион долларов по existing dollar notes, в последних усилиях stressed Hong Kong developer to extend maturities and shore up liquidity. The company said holders of the existing three notes can exchange them for new 7.375% senior secured bonds issued by a newly established treasury vehicle, plus cash consideration, according to a stock exchange announcement on Tuesday. The offer covers three bond tranches, with outstanding amounts of $456.9 million on 4.75% notes due January 2027, $162.6 million of 5.875% bonds due June 2027 and $372 million of 8.625% securities due February 2028.
New World said the transaction is aimed at optimizing its debt maturity profile, enhancing balance-sheet flexibility and improving liquidity amid ongoing challenges in Hong Kong and mainland China’s property markets. Chow Tai Fook Enterprises Ltd., the largest shareholder of the embattled Hong Kong developer, has indicated it’s prepared to provide backing to the company, according to a filing last week. New World posted an HK$18.3 billion ($2.3 billion) writedown after scrapping a deal with the Hong Kong airport to manage the struggling 11 Skies retail and office complex.
Источник: Bloomberg Markets · Сводку подготовил HeadlinesBriefing