Hong Kong developer New World Development (NWD) has successfully refinanced HK$88.2 billion (US$11.3 billion) of debt just before the deadline, concluding months of negotiations that pulled the company back from the brink of default.
The refinancing package includes multiple tranches of bank loans with varying maturities, with June 30, 2028, being the earliest, the developer said in an exchange filing on Monday.
The package would “allow the group more flexibility to better manage its expected…
