New World Development
New World must reckon with US$6.8 billion of bonds after swap
China’s property debt crisis has sparked record defaults and unprecedented restructurings
Hong Kong tycoon Henry Cheng seeks sale of some Rosewood hotels
The group has 58 properties around the world
New World raises creditor support on overseas debt swap
The swap is the company’s latest move to ease liquidity stress stemming from the years-long downturn
New World gets 65% agreement on debt swap by early deadline
The company has become a poster child of the broader challenges developers face as they grapple with debt
New World’s talks with foreign investors stall over concessions
There is disagreement over how much control the clan is prepared to hand over in return for a capital injection
How Hong Kong property giant New World ran into trouble
A record HK$88.2 billion loan refinancing deal in June offers hope of a new start for the beleaguered company
New World tells creditors not much room to sweeten debt swap
The plan to swap existing debt for new securities includes haircuts of as much as 50% on perpetual bonds
New World, Vanke debt moves shake up China’s property sector
In Hong Kong, the commercial real estate continues to face challenges
New World Development launches up to US$1.9 billion debt exchange offer
The move comes as the company seeks to manage its capital structure in a challenging financing environment
New World posts HK$16.3 billion loss as builder’s woes persist
The results cap another tumultuous year for the property firm, which has been trying to alleviate a liquidity crunch during the real estate slump
