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Bond Market News
NWD’s Dollar Bonds Soar Higher; 6.15% Perp Jumps 14 Points
March 4, 2025
NWD’s dollar bonds shot higher across the curve. In particular its 6.15% Perp callable from March 26 to June 16 surged by 14 points. This follows its announcement to boost cashflows and reduce debt. Echo Huang, the CEO of NWD announced plans to offload non-core assets, cut costs and improve rental returns. Also, the developer had reiterated that it was not discussing a holistic debt restructuring plan. While analysts noted that the latest developments should further ease liquidity concerns, they do note that a clearer deleveraging plan is needed.
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