New World Development (NWD) has bought back $610mn of its dollar bonds as per the tender offer announced in November. The final amount bought back was slightly higher than the original $600mn announced in the offer. As per the exchange filing released, the final amounts bought back are:
- $188.6mn of 4.75% 2027 at $900 per $1000, representing 15.96% of outstanding principal amount
- $63.6mn of 5.875% 2027 at $910 per $1000, representing 14% of outstanding principal amount
- $405mn of 4.125% 2029 at $810 per $1000, representing 23.37% of outstanding principal amount
- $209.8mn 4.5% 2030 at $800 per $1000, representing 19.72% of outstanding principal amount
- $66.8mn of 3.75% 2031 at $760 per $1000, representing 40.51% of outstanding principal amount
- $424.1mn 4.125% Perp at $600 per $1000, representing 4.63% of outstanding principal amount
- $229.1mn of 6.15% Perp at $875 per $1000, representing 9.22% of outstanding principal amount
NWD dollar bonds traded flat with its 4.125% Perp, trading at 54 cents on the dollar.
For more details, click here