This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
NWD’s Talks for Blackstone Funding Said to Have Stalled
March 5, 2026
NWD’s talks with Blackstone for a capital injection is said to have stalled. Sources noted that the billionaire Cheng family that runs the Hong Kong developer is reluctant to give up control. Instead, they are said to be seeking alternative suitors without the need to give up control or decision-making rights. This comes after reports in early-February which indicated that Blackstone was in advanced negotiations to become NWD’s single largest shareholder, potentially displacing the founding Cheng family. At the time, it was reported that Blackstone proposed injecting $2.5bn into a special purpose vehicle (SPV), while the Cheng family would invest $1-1.5bn.
Separately, HSBC Research noted that while NWD managed to trim its losses in 2025, there was still a huge gap from the substantial improvement that investors are expecting. It added that the developer’s bank loan refinancing will gradually mature from 2028, post which NWD may need to undertake large asset disposals or receive strong support from its parent company. Following this, it kept a ‘reduce’ rating on the company’s stock.
NWD dollar bonds were trading lower with its 5.25% Perp down by 2.6 points to trade at 76.9 cents on the dollar.
Go back to Latest bond Market News
Related Posts:
Dr. Peng Telecom Seeks Extension of its Dollar Bonds
February 2, 2021
Cathay Sells $650mn 5.5Y Bond at 4.875%
May 11, 2021
Cathay’s Granted $1bn Loan Extension
June 9, 2021
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.