New World's Bond Prices Surge as It Nears Refinancing Deal
New World Development Co. 's dollar bonds are poised to hit their highest levels this month as the company closes in on a crucial loan refinancing deal.
The indebted Hong Kong builder's bonds were up 2 to 3 cents across maturities Friday morning, according to traders. A senior note maturing in 2027 rose nearly 3 cents to 71 cents on the dollar, on pace for its highest level since May 30, when the company said it would delay interest payments on four of its perpetual bonds.
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