Hong Kong's New World confirms loan facility talks with Deutsche Bank
Sept 1 (Reuters) - Hong Kong property developer New World Development 0017.HK confirmed on Monday it is in discussions about a loan facility led by Deutsche Bank AG DBKGn.DE, but denied receiving any other funding proposals.
However, the firm did not reveal any other financial details about the loan facility being discussed with Deutsche, Germany's largest lender.
Bloomberg News reported earlier, citing unnamed sources, that Hong Kong tycoon Henry Cheng's family, also the firm's controlling shareholder, was weighing a HK$10-billion ($1.28-billion) capital injection through a joint venture.
The report said the family was seeking a partner to provide a roughly similar amount for an equity stake, with Blackstone BX.N and CapitaLand among those in talks.
New World, which carries one of the highest debt ratios among its peers, secured an $11.2-billion loan refinancing package in late June, one of the largest yet in Hong Kong, designed to bring the company back from the brink of default.
Shares and bonds of the property developer had surged on August 7 after a media report on a potential take-private deal.
($1 = 7.8113 Hong Kong dollars)
Related Articles
Who Smokes Whom? Altria and Philip Morris International for Tobacco Supremacy
TradingKey - As a U.S. tobacco giant, Altria dominates the cigarette market through subsidiaries like Philip Morris USA but faces severe challenges from declining sales and competition from illicit e-cigarettes..jpg)
Bitcoin Tumbles Nearly 5% in August — Can September Turn the Tide?
Ancient whale wallets dumped Bitcoin throughout August, sending its price on a roller-coaster ride. With September’s Federal Reserve meeting on the horizon, traders are asking: can Fed action spark a BTC rebound?
Eurozone Q2 GDP Commentary: Will the Euro's Upward Momentum Persist?
TradingKey - On 14 August 2025, Eurostat published Q2 GDP figures, revealing a drop in the Eurozone's quarter-on-quarter growth from 0.6% in the first quarter to 0.1%. Consequently, annual growth eased from 1.5% to 1.4%. The slowdown primarily stems from the diminishing boost from European...
Why a 50-Basis-Point Rate Cut in September Should Worry Investors? Risks and Fed Independence Loom Large
TradingKey - After the release of the July nonfarm payrolls and CPI reports, markets have all but locked in expectations for the Federal Reserve to restart rate cuts in September, but the magnitude of the cut remains uncertain. U.S. Treasury Secretary Scott Bessent has called for a 50-basis-point
Bitcoin Price Forecast: Trends and Investment Outlook from 2025 to 2030
From $0.01 in 2009 to $120,000+ in 2025, Bitcoin has evolved from obscurity to a globally recognized financial asset. While institutions and governments increasingly embrace it, investors must remain vigilant against volatility, security risks, and scams.
