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 principal
- $280.856mn of its 5.75% Perps at $955 per $1,000 in principal.
All tenders will be done according to a modified Dutch auction procedure. Settlement is expected to be on or about December 20 and the offers will expire on December 31. NWD had launched the offers earlier this month.
Its dollar bonds were trading lower with its 4.8% Perp down 1.3 points at 61, yielding 7.87%.
