New World climbs on plan to extend debt maturities with bond exchange offer

New World Development

06/10/2026 02:56

** Shares of New World Development 0017.HK climb 1.8% to HK$5.8, on course for biggest one-day pct gain since September 16
** Stock on track to snap two straight falling sessions
** Property developer launches debt exchange offer that would allow bondholders to swap some notes due in 2027 and 2028 for new secured debt maturing in 2032
** Says newly established unit plans to issue up to $600 million of new 7.375% secured notes due 2032 in exchange for existing notes
** YTD, stock down 21%, benchmark Hang Seng Index .HSI down 5.2%

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))