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NWD's Perpetual Note Tumbles to 3-mth Low Reportedly
Recommend 6 Positive 9 Negative 19 |
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NEW WORLD DEV (00017.HK)'s 6.15% perpetual note tumbled by over US4 cents to US54.8 cents per US dollar of face value, marking its lowest level since February, Bloomberg reported. Other US dollar bonds issued by the group also sagged by about US2 cents. Since the company decided not to redeem a US$345 million perpetual note before June 16, its liquidity woes have drawn considerable market attention. Investors are focused on whether NWD can meet interest payments on four perpetual notes next month, with the first due on June 9. AAStocks Financial News Website: www.aastocks.com |
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