New World Development Nears $11 Billion Loan Refinancing Agreement

Hong Kong, June 19 – New World Development Co., one of Hong Kong’s leading property conglomerates, is in the final stages of securing a loan refinancing deal worth approximately $11 billion, according to people familiar with the matter. The agreement, involving a consortium of both local and international lenders, is aimed at restructuring the company’s existing debt and improving liquidity amid a challenging property market environment in Hong Kong and mainland China. The refinancing will help the developer manage near-term maturities and preserve access to capital markets, while potentially securing more favorable interest terms. Sources indicate that the deal includes a combination of term loans and revolving credit facilities, with final terms expected to be concluded in the coming weeks. This move comes as several major developers in the region face heightened pressure from a sluggish real estate sector, rising interest rates, and tighter financing conditions. By locking in a refinancing deal of this scale, New World Development seeks to reinforce its financial resilience and maintain investor confidence. New World, known for its diversified portfolio of residential, commercial, and infrastructure projects, has remained proactive in managing its capital structure through asset disposals and strategic investments. Market analysts are watching the deal closely as a bellwether for credit sentiment toward property firms in Greater China, especially as the sector continues to navigate regulatory headwinds and economic uncertainty.

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