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NWD Reportedly Secures HKD20B in Loan Commitments; Some Foreign Banks Opt Out
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NEW WORLD DEV (00017.HK) is currently arranging two financing deals, Debtwire reported, citing sources. One is a HKD63.4 billion loan, primarily for refinancing debts maturing in 2025 and 2026, while the other is a new HKD15.6 billion loan secured by a first mortgage on Victoria Dockside in Tsim Sha Tsui, expected to be used mainly for ongoing project development and bond repayment, with Deutsche Bank reportedly acting as underwriter. NEW WORLD DEV has so far secured about HKD20 billion in loan commitments from banks, yet some non-China and non-Hong Kong banks that hold small amounts of the group's unsecured loans are demanding repayment at maturity, signaling their reluctance to participate in the refinancing. The report also mentioned that NEW WORLD DEV had already received commitments by the end of April from banks including BANK OF CHINA (03988.HK) and HSBC HOLDINGS (00005.HK) to join the refinancing loan. The loan syndication is scheduled to close on June 30. AAStocks Financial News |
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