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NEW WORLD DEV Plans to Exchange Some Bonds, Expects to Issue Max. US$1.9B in New Perpetual Securities & Notes
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To optimize its debt maturing profile, enhance balance sheet flexibility and liquidity and improve its long-term capital structure, NEW WORLD DEV (00017.HK) proposed to replace existing perpetual securities and notes by way of an offer, involving five tranches of senior secured perpetual bonds with an aggregate outstanding principal amount of nearly US$4.49 billion; alongside six tranches of secured notes maturing between 2027 and 2031, with an outstanding principal amount of nearly US$2.27 billion, as announced by NEW WORLD DEV. NEW WORLD DEV expected the aggregate principal amount of new perpetual securities and new notes will be no greater than US$1.9 billion, with an intention to proportionally accept the exchange of all series of existing perpetual securities, where the initial issuance of perpetual securities will have a principal amount of no greater than US$1.6 billion. AASTOCKS Financial News Website: www.aastocks.com |
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