Latest news with #loanrefinancing
Bloomberg
02-07-2025
- Business
- Bloomberg
New World Shares Jump Following Record $11.2 Billion Loan Deal
New World Development Co. shares surged to the highest level this year after the company closed a record $11.2 billion loan refinancing package, helping ease investor anxiety. The Hong Kong builder's stock jumped as much as 11%, leading its peers in a gauge of developers in the financial hub. Trading volumes climbed to four times the three-month average around midday.
Reuters
02-07-2025
- Business
- Reuters
New World Development shares jump after $11.2 billion refinancing package
HONG KONG, July 2 (Reuters) - Shares of New World Development ( opens new tab jumped as much as 11% in early trading on Wednesday, after the Hong Kong major property developer received commitments for a HK$88.2 billion ($11.2 billion) loan refinancing package. The refinancing package, poised to be one of the largest ever in Hong Kong, concludes months of negotiations over a debt package designed to bring the company back from the brink of default. New World, which carries one of the highest debt ratios among its peers, said in a filing on Monday that it had refinanced portions of its existing offshore unsecured debt, including bank loans, through a new facility and had also aligned the terms of its remaining loan agreements. The new facility consists of multiple tranches of bank loans with different maturities, the earliest being June 30, 2028.
Bloomberg
30-06-2025
- Business
- Bloomberg
New World Closes Record $11.2 Billion Loan Refinancing Deal
Distressed Hong Kong builder New World Development Co. has closed a HK$88.2 billion ($11.2 billion) loan refinancing deal, formally concluding months of negotiations with banks for the largest-ever such borrowing in the city. The company successfully refinanced certain of its existing offshore unsecured financial indebtedness, including bank loans, through a new refinancing term loan facility, it said in a filing to the Hong Kong stock exchange Monday. The developer also said it aligned its other existing offshore unsecured bank loans with the terms of the new refinancing loan.
CNA
26-06-2025
- Business
- CNA
New World gets lender approval for $11 billion refinancing, Bloomberg News reports
Distressed Hong Kong builder New World Development has secured written commitments from all banks for a HK$87.5 billion ($11.15 billion) loan refinancing, Bloomberg News reported on Thursday, citing people familiar with the matter. ($1 = 7.8498 Hong Kong dollars)
Bloomberg
26-06-2025
- Business
- Bloomberg
New World Gets 100% Lender Approval for $11 Billion Refinancing
Distressed Hong Kong builder New World Development Co. has secured written commitments from all banks for a HK$87.5 billion ($11.1 billion) loan refinancing, people familiar with the matter said, bringing it closer to finalizing a critical lifeline just days before a deadline. The next procedural step to formally conclude the transaction is for lenders to sign the loan documents, according to the people. They expect that to happen shortly. Documentation showed that if New World didn't achieve a 100% approval by June 30, the deal could fall through as any collateral pledged would be released and bank commitments canceled.
