NEW WORLD DEV (00017.HK) Reportedly Mulls Redeeming Perpetual Bonds in Mar 2025

　　Bloomberg, citing sources, reported that NEW WORLD DEV (00017.HK) -0.060 (-0.830%) Short selling $5.46M; Ratio 32.524% has told some investors that it will try to buy back its perpetual bonds in March next year. If the company gives up the option to redeem the bonds, the interest rate on the bonds would be much higher than the company's average 5% cost of financing, the sources said. The bonds are currently priced at US95.7 cents on the dollar.

　　The news also reported that NWD expected to complete the sale of HK$8 billion of non-core assets within this month, and may soon update the details of asset sales for the 12 months ended this month. In addition, the company also secured a multi-billion RMB loan by mortgaging its Shanghai K11 shopping mall, and said the company has recently raised funds in this way.

　　Most of NWD's investment properties are still not mortgaged, and the average loan-to-value ratio is expected to be around 40%, with some reaching 70%, the news said.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-27 12:25.)

　　AAStocks Financial News