Lates News

New World Development's stocks and dollar bonds have achieved the largest increase in several months. Reports have stated that the company and its controlling family are in negotiations for a potential financing deal worth up to $2.5 billion. New World Development's stock price in Hong Kong rose by 16% at one point, marking the largest increase in five months, but later retracted some of the gains. Credit traders have mentioned that some of New World Development's dollar bonds increased by approximately 2 cents for every $1 face value. Data shows that the company's bonds due in 2030 with a coupon rate of 4.5% are priced at around 53 cents, potentially marking the largest increase in two months. Octus reported on Wednesday evening that New World Development and the Cheng family behind it are in talks with Blackstone Group for a potential financing deal that may include preferred or common stocks, ultimately leading to a privatization offer jointly proposed by the Cheng family and Blackstone Group.