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Bond Market News
NWD’s Dollar Perps Move Higher by Over 2 Points amid Positive Sentiment from CTFE
January 20, 2026
NWD’s perpetual dollar bonds were higher by more than 2 points, and its senior unsecured notes also ticked higher. This came on the back of Henry Cheng Kar-shun, chairman of Chow Tai Fook Enterprises (CTFE), the parent of NWD, outlining a “win-win” investment philosophy for his multibillion-dollar company. He emphasized a strategy focused on nurturing and compounding value over time rather than chasing short-term gains. While he did not specifically comment on NWD, analysts have noted that his comments could signal new acquisitions from the parent and a potential easing of liquidity conditions of NWD. In a separate update, Rosewood Hotel Group, a subsidiary of CTFE indicated that the group and its brands were not for sale, and all hotels were operating as usual. This comes after rumors late last week indicated that Marriott International was planning a strategic acquisition of the hotel group. Only a month ago, sources had indicated that Cheng family had put their luxury Rosewood Hotel in London’s Holborn district up for sale, amid efforts to ease financial and liquidity pressures on NWD.
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