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New World Development’s (NWD) dollar bonds moved higher by over 2-3 points across the curve yesterday. While there was no specific news available regarding the company, NWD’s bonds have been trending higher since the beginning of the month. NWS Holdings, the flagship unit of NWD said last month, that the pre-conditions to the sale of its shares to Century Acquisition were met on October 6. Century Acquisition is a construction subsidiary unit of CTFE, a privately-owned conglomerate spread across multiple industries. CTFE holds about 45.2% of NWD shares, and offered to buy ~97% of NWS Holdings’ shares for HKD 35.8bn ($4.6bn). If successful, this transaction would help lighten the debt load at the parent company, NWD.