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Bond Market News
NWS Holdings to Redeem 5.75% Perp
December 22, 2023
New World Development’s (NWD) flagship unit NWS Holdings, has decided to redeem its 5.75% Perps in full. The notes, which are callable on 31 January 2024, currently have an amount outstanding of $1.019bn. NWD has been steadily buying back several of its dollar bonds over the past few months. Its bonds have trended higher over the past few months after NWS Holdings, said that the pre-conditions to the sale of its shares to Century Acquisition were met on October 6.
Its 5.75% Perp is currently trading at 99.66 cents on the dollar
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