Distressed Hong Kong developer New World Development (NWD) has secured investor consent to swap 65 per cent of its perpetual bonds in an exchange plan by an early deadline, but still has work to do to tackle the highest debt load among builders in the city.
Investors tendered US$2.09 billion of the securities by an initial early deadline of November 17, out of a potential amount of as much as US$3.2 billion, a company filing showed.
The company has since extended that early deadline for…
Source : South China Morning Post
Read more…New World Development secures 65% perpetual bond swap but debt pressure persists















