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Bond Market News
NWD Secures Loan Facility by Pledging Victoria Dockside Asset
September 26, 2025
New World Development (NWD) secured a loan facility backed by pledging its Victoria Dockside crown jewel asset as collateral. As per an announcement on its website, the loan facility size agreed upon was up to HKD 5.9bn ($760mn). An initial tranche amounting to up to HKD 3.95bn ($510mn) will be made available to certain members of the group for ordinary course financing activities. The facility is secured by a first-ranking mortgage over Victoria Dockside, which comprises five major components, namely “K11 ARTUS”, “K11 ATELIER”, “K11 MUSEA”, Rosewood Hong Kong, and certain carparks and assets that are related to it. The group retains the ability to use the property as security to obtain additional financing to support its ongoing business needs, according to the filing.
Its 5.875% 2027s are up by ~4 points since the beginning of the month, currently at 85 cents on the dollar, yielding 15.5%.
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