We use cookies to improve your experience. By using BondbloX, you agree to our use of cookies.
Bond Market News
NWD’s Shareholder Seeks to Finance $932mn Loan
March 17, 2026
Chow Tai Fook Enterprises (CTFE), the largest shareholder of New World Development (NWD) is seeking to refinance a HKD 7.3bn ($932mn) loan due in June through a potential five-year facility. The move is closely watched because CTFE holds over a 40% stake in NWD, which narrowly avoided default last year. To strengthen its balance sheet ahead of the refinancing, CTFE has made several moves in recent months, such as transferring a 54% stake in Chow Tai Fook Jewellery into a CTFE unit, and agreeing to sell Australian power producer Alinta Energy to Singapore’s Sembcorp. Together, these deals are expected to cut CTFE’s net debt-to-net asset ratio from 62% to ~29%, and its net debt-to-EBITDA from 7.3x to 3.7x. The refinancing effort is further complicated by stalled talks with Blackstone over a potential capital injection into NWD — negotiations broke down because the Cheng family was reluctant to give up control.
NWD’s bonds traded stable with its 9% Perp at 102.3 cents on the dollar.
For more details, click here
Go back to Latest bond Market News
Related Posts:
Dr. Peng Telecom Seeks Extension of its Dollar Bonds
February 2, 2021
Cathay Sells $650mn 5.5Y Bond at 4.875%
May 11, 2021
Cathay’s Granted $1bn Loan Extension
June 9, 2021
Our Awards
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.