Latest news with #loanrefinancing
Bloomberg
3 days ago
- Business
- Bloomberg
New World Gets More Bank Commitments for Loan Refinancing
Embattled Hong Kong property developer New World Development Co. has landed more vows from banks to help with a HK$87.5 billion ($11.2 billion) loan refinancing deal, bringing commitments to about 40% of that total. The company now has commitments of more than HK$35 billion for the refinancing, according to people familiar with the matter. More banks are slated to follow in the coming days or weeks, the people said, asking not to be identified discussing private matters.
Bloomberg
22-05-2025
- Business
- Bloomberg
New World Gets Support From About 10 Banks for Loan Refinancing
By , Trista Xinyi Luo, and Pearl Liu Save New World Development Co. has secured commitments from about 10 banks for its HK$87.5 billion ($11.2 billion) loan refinancing, according to people familiar with the matter, as the cash-strapped builder races to complete the deal before the end of next month. Major banks Bank of China Ltd., HSBC Holdings Plc and Standard Chartered Plc, local lenders Bank of East Asia Ltd., Fubon Bank (Hong Kong) Ltd., Hang Seng Bank Ltd., and French lender Credit Industriel et Commercial along with several other financial institutions have completed the internal approval process to join the deal, with total commitments exceeding HK$20 billion, the people said. More banks are going through internal credit approvals and expect to finalize their commitments in the coming weeks, they added.
