by Amruth Sundarkumar | May 17, 2023 | High Yield Bonds, Hong Kong
Hong Kong-based developer New World Development’s (NWD) dollar bonds slipped on Tuesday, led by its perps that fell by over 3 points. While there was no specific news that explains the price drop, there have been concerns that Hong Kong’s mass-residential prices...
by Amruth Sundarkumar | Feb 20, 2023 | Corporates, Hong Kong
FWD has agreed to take a majority 70% stake in Malaysian Insurer Gibraltar BSN Life, a subsidiary of Prudential Financial. The transaction will help FWD make a push into the Malaysian life insurance market and is likely to get completed by the second quarter. The size...
by Amruth Sundarkumar | Dec 15, 2022 | High Yield Bonds, Hong Kong
New World Development (NWD) announced the results of its tender offer where it will accept: $92.301mn of its 4.25% 2029s at $865 per $1,000 in principal $37.183mn of its 4.5% 2030s at $814 per $1,000 in principal $72.165mn of its 3.75% 2031s at $770 per $1,000 in...
by Amruth Sundarkumar | Dec 8, 2022 | High Yield Bonds, Hong Kong
Li & Fung announced the early results for the buyback of its $600mn 4.5% 2025s and increased the purchase price for tenders submitted after the early deadline. It accepted to buy back $76.165mn in principal of the 2025s before the early deadline, paying $875 per...
by Amruth Sundarkumar | Dec 6, 2022 | Corporates, Hong Kong, Perpetual Bonds
Lee & Man launched a buyback offer to purchase up to $130mn of its USD 5.5% Perps, by offering to pay $860 per $1,000 in principal amount. The purchase price came at a significant premium of ~10 cents on the dollar to its market price of 75.7 prior to the...
by Amruth Sundarkumar | Dec 5, 2022 | High Yield Bonds, Hong Kong
New World Development (NWD) launched a buyback offer for its $600mn 4.5% 2030s, $200m 3.75% 2031s and $1.3bn 5.75% Perps callable in January 2024. Besides, the buyback offer also included a $335.95mn 4.25% bond due 2029, issued by Celestial Dynasty and guaranteed...
