Story perspectives
New World Development Targets $1.02 Billion Debt Reduction
11/19/2025
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Story summary
- New World Development Company Limited (the developer) aims to reduce its debt by $1.02 billion through a bond exchange plan.
- The plan would swap $1.9 billion of perpetual bonds at a 50% haircut for early tenders.
- Investors had tendered $2.09 billion by the deadline of November 17.
- The company secured an $11 billion refinancing package this year.
- Analysts say the situation reflects real estate sector challenges in Hong Kong.
