logo
New World's $11 Billion Refinancing Gambit Must Get 100% Support

New World's $11 Billion Refinancing Gambit Must Get 100% Support

Bloomberg13-06-2025
As distressed Hong Kong builder New World Development Co. gathers more support from banks for its targeted HK$87.5 billion ($11.1 billion) loan refinancing, a key part of the terms shows that it must get 100% in commitments, or the deal will fall through.
Documentation for the potential borrowing shows that if New World doesn't achieve a 100% approval rate by June 30, any collateral pledged would be released and bank commitments canceled, people familiar with the matter said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Sanctions bill targets China for enabling Putin's war in Ukraine
Sanctions bill targets China for enabling Putin's war in Ukraine

Washington Post

time34 minutes ago

  • Washington Post

Sanctions bill targets China for enabling Putin's war in Ukraine

Bipartisan legislation introduced in the Senate on Friday would force the Trump administration to impose economic penalties on China for supporting Russia's war machine, targeting Moscow's most important sponsor as the president intensifies efforts to end the war in Ukraine. The bill introduced by Sens. Jeanne Shaheen (D-New Hampshire) and John Cornyn (R-Texas) would require the administration to target Chinese 'entities and individuals' that have helped sustain the Russian defense industry despite enormous battlefield losses and widespread Western sanctions imposed since the start of the war.

Nintendo's Switch 2 Sales Near 6 Million
Nintendo's Switch 2 Sales Near 6 Million

Yahoo

time36 minutes ago

  • Yahoo

Nintendo's Switch 2 Sales Near 6 Million

Sales for the Nintendo Switch 2 consoles have reached 5.82 million since its June 5 release, the Japan-based video game giant revealed along with its latest earnings results Friday. 'Looking at hardware sales volume in the first quarter of this fiscal year, Nintendo Switch 2 sales totaled 5.82 million units, and Nintendo Switch sales declined 53.5% year-on-year to 0.98 million units,' Nintendo stated in English-language explanatory materials accompanying the financials. 'Nintendo Switch is now in its ninth year since launch, so a year-on-year decline in sales is expected, but it continues to show stable sales.' More from Variety Apple Services Revenue Grows 13% to New Record, Earnings Massively Beat Street Amid Trump Tariff Uncertainty Amazon Beats Q2 Expectations as Revenue Rises 13% to Nearly $168 Billion Roku Drives Up Revenue 15%, Turns in Surprise Profit in Solid Q2 Earnings Beat Nintendo's Switch 2-specific game sales have hit a modest 8.67 million, which Nintendo attributes to 'the fact that many consumers purchased the hardware bundled with 'Mario Kart World,' and that there was a wide variety of titles from other software publishers.' Nintendo Switch software sales stood at 24.40 million units, a decline of 20.4% from the comparable period in 2024. However, it should be noted that Nintendo says, 'because Nintendo Switch 2 can play Nintendo Switch titles, the people purchasing Nintendo Switch software include not only owners of Nintendo Switch, but also people who have bought Nintendo Switch 2.' More to come… Best of Variety New Movies Out Now in Theaters: What to See This Week What's Coming to Disney+ in August 2025 What's Coming to Netflix in August 2025

Kia's Carnival, Sportage, And Telluride Set New Sales Records In July
Kia's Carnival, Sportage, And Telluride Set New Sales Records In July

Yahoo

timean hour ago

  • Yahoo

Kia's Carnival, Sportage, And Telluride Set New Sales Records In July

Kia's Carnival, Sportage, And Telluride Set New Sales Records In July originally appeared on Autoblog. Kia is on track for its best-ever annual sales Kia's positive sales momentum continued into the second half of 2025, with the manufacturer reporting a 12% increase in year-on-year sales in July. Together with Hyundai, the Korean brands had a stellar end to the second quarter, while Kia's sedans are seeing sales growth that's outpacing its SUVs. Last month, three Kia models achieved their highest-ever sales for July, and one of them was a minivan. Brilliant July For Carnival, Sportage, And Telluride View the 3 images of this gallery on the original article While the success of the Sportage and Telluride are no surprise given the market's appetite for SUVs, the Carnival's best-ever July continues a trend of soaring minivan sales this year. SUVs may be better at off-roading, but they can't match the interior space utilization of a classic minivan. The Carnival's sales hit 5,928 units last month, a 30% increase over July 2024. Sportage sales were up 14% to 14,392, while the Telluride jumped by 15% to 10,411 units. Considering that we're not far from a new-generation Telluride, it's particularly impressive that this three-row crossover managed to hit its best-ever July sales so late into its life cycle. The Sportage remains Kia's best-selling individual model in the United States, surpassing 100,000 total sales for the year last month. Despite the 2026 model being pricier, it should easily remain Kia's best-selling model. Most Other Kias Had A Better July, But Not The EVs Elsewhere in Kia's lineup, July 2025 sales were generally better compared to a year ago. The K4/Forte managed 11,188 units (10,448 in July 2024), the K5 hit 5,879 units (up from 4,713), and the Sorento sold 7,965 units (up from 7,206). The EV6 found 1,290 homes, down from 1,547 a year ago, while the EV9 sold 1,737 units, down from 1,815. Despite these declines, Kia still sold way more cars in July 2025 (71,123) than a year ago (63,580). 'Kia is steadily progressing toward its highest annual sales record and an all-time high market share, fueled by record-breaking consumer sales growth,' said Eric Watson, vice-president, sales operations, Kia America. 'As our SUV lineup maintains double-digit growth month after month, we recently rolled out a new ad campaign for the 2026 Sportage, which offers the ideal combination of efficiency and capability. As Kia's longest-running nameplate, our customers have a strong sense of connection to Sportage, and we are fostering similar connections between our customers and other models.' Strong sales and a favorable trade deal between the United States and South Korea should see Kia end the year on a high note, with best-ever annual sales in this region. Kia's Carnival, Sportage, And Telluride Set New Sales Records In July first appeared on Autoblog on Aug 1, 2025 This story was originally reported by Autoblog on Aug 1, 2025, where it first appeared.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store