New World Development seeks to extend debt maturities with bond exchange offer
New World Development asked bondholders to swap debt due in 2027 and 2028 for new notes maturing in 2032, aiming to extend its repayment schedule and improve liquidity. A new unit plans to issue up to $600 million of new 7.375% secured notes due 2032 in exchange for existing notes.
Oct. 6 — New World Development said on Tuesday it has asked bondholders to exchange some of its debt due in 2027 and 2028 for new notes due in 2032, as the Hong Kong developer seeks to lengthen its repayment timetable and bolster liquidity. 375% secured notes due 2032 in return for existing notes.