New World scores with tight bond return

The Hong Kong-listed property developer raised $600 million from a deal that appeared to price well inside fair value.

Ray Chan

January 11, 2017

New World Development, controlled by local billionaire Henry Cheng Kar-shun, returned to the international bond markets this week, selling a $600 million unrated 10-year bond that got big demand from yield-hungry investors.

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Debt
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North Asia

#bonds
#unrated
#new world development