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Bond Market News
NWD’s Dollar Bonds Rise; Sells Industrial Building
December 11, 2024
NWD’s dollar bonds continued to rise by over 1 point. The company sold an industrial building, Artisan Lab in Hong Kong’s Kowloon area for HKD 620mn ($79.8mn), as per Sing Tao Daily. NWD may still need to sell more assets in 2025 even after its above disposal, as per Bloomberg Intelligence. They added that the recent asset sale could lower the developer’s net debt-to-shareholders’ equity ratio by 0.3%. The asset sale falls in place with its overall strategy of disposing its non-core assets in particular, over the last few years
Its 4.8% Perp was up 1.5 points to 40.8, yielding 11.8% and its 4.5% 2030s were up 1 point to 71.2, yielding 11.8%.
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