NWD Completes $35B Loan Arrangements and Debt Repayments

　　NEW WORLD DEV (00017.HK) -0.030 (-0.415%) Short selling $6.92M; Ratio 40.927% announced that the Group has completed loan arrangements and debt repayments totaling approximately $35 billion since January 2024. The average interest rate of the Group's offshore loans is about HIBOR plus 1.1%.

　　The Group has also secured new bank loans to further replenish its liquidity. In order to further reduce overall financing costs, the Group increased its share of Renminbi loans, including a new RMB2 billion domestic 15-year operating loan and a new RMB600 million domestic 10-year operating loan. Several other domestic operating loans are also under negotiation.

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　　The joint venture hotel loan between NWD and Abu Dhabi Investment Authority has also been successfully refinanced with a total amount of HK$9.5 billion, of which HK$9.25 billion is the existing loan amount and HK$260 million is the new financing.

　　According to NWD, the Group will continue to improve its loan portfolio and seek for low-cost domestic loans in the future, so as to effectively control its finance costs and maintain a healthy financial position.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-24 12:25.)

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