Story perspectives
New World Launches Debt Swap Amid Property Market Struggles
11/5/2025
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Story summary
- New World, a Hong Kong-based property firm, launched a debt swap with haircuts up to 50% to manage its capital structure.
- The company plans to issue $1.6 billion in perpetual securities and $300 million in new notes.
- New World has deferred $77.2 million in coupon payments since June.
- New World remains the sector's most indebted amid a weak property market.
- PJT Partners is advising bondholders on the exchange offer.
