New World seeks to extend debt maturities with bond exchange offer
HONG KONG: New World Development said on Tuesday it has asked bondholders to swap some of its debt due in 2027 and 2028 for new notes maturing in 2032, as the Hong Kong developer seeks to extend its repayment schedule and improve liquidity.
The company said a newly established unit plans to issue up to US$600 million of new 7.375 per cent secured notes due 2032 in exchange for existing notes.
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