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Bond Market News
NWD Said to Plan Divesting HK Hotels Valued at $2bn
May 6, 2026
New World Development (NWD) is said to be in negotiations to divest its 50% stake in three premier Hong Kong hotels. Valued at $2bn, the portfolio comprises the Grand Hyatt, the Renaissance Harbour View, and the Hyatt Regency Kowloon hotels. The Abu Dhabi Investment Authority currently owns the remaining half of the assets. The buyers of the stake include Singapore’s Aravest Pte. If finalized, the deal is expected to net NWD ~$300mn in cash after debt repayments. NWD confirmed in a filing that it is frequently approached by buyers, but noted that no disclosable agreement has yet been reached. The potential sale is considered to be part of NWD’s efforts to address its $15.7bn (HKD 122.7bn) net debt load.
NWD’s dollar bonds traded stable with its 9% Perp at 102.5 cents on the dollar.
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