Latest news with #propertycrisis
Bloomberg
2 days ago
- Business
- Bloomberg
New World Is a Reminder China's Real Estate Crisis Isn't Over
Welcome to The Brink. It's Trista Xinyi Luo and Pearl Liu, reporters in Hong Kong, where we've been looking at the latest property trouble in Greater China. We also have the latest on Clearlake's Quest Software, Thames Water and Rivian. Follow this link to subscribe. Send us feedback and tips at debtnews@ Greater China's property crisis is back in the spotlight after New World Development 's decision to defer some dollar perpetual bond interest payments rattled global credit investors and reignited concerns about the region's drawn-out real estate crunch.
Bloomberg
3 days ago
- Business
- Bloomberg
New World's Distress Worsens After Shock Delay on Bond Interest
Hong Kong developer New World Development Co. is sliding deeper into distress after jolting investors by delaying interest payments on some bonds, marking the latest flashpoint in a years-long crisis in China's property market. New World, which is grappling with HK$210.9 billion ($26.9 billion) of liabilities, said in a filing late Friday that it's planning the deferment for coupons on four perpetual notes. In total, that means it's postponing $77.2 million of debt obligations, according to Bloomberg calculations.
