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<HK Home>NWD Reportedly Plans to Pledge 13 Properties for Refinancing, Involving ~$30B
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NEW WORLD DEV (00017.HK) plans to pledge 13 of its properties as collateral to refinance bank loans due in 2027 and beyond, market sources divulged. The group submitted revised draft terms for the three-year refinancing to the banks and asked the financial institutions to provide feedback by Friday (21st). The total value of the pledged assets approximate US$3.8 billion (equivalent to approximately HK$29.55 billion), including core projects such as the K11 at Middle Huaihai Road in Shanghai and Rosewood Phuket in Thailand. If this pledge is completed, together with the asset pledge proposal of HK$117 billion made earlier this year, the total value of NWD's collaterals will reach HK$148.52 billion. AAStocks Financial News |
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