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Dollar bonds of Hong Kong-based developer New World Development (NWD) continued to fall sharply, following the broader selloff in several Hong Kong issuers on Friday. Real estate agency JLL had reported that Hong Kong developers’ sales were at its lowest since 2019 for new residential units completed, having sold 55% of apartments completed in H1. This compares to their average sell-through rate of 78% over the preceding five years. Its 5.875% 2027s plunged by over 12.5 points to trade at 76.25, yielding 14.2%.