Hong Kong’s New World Development touts US$4.5 billion in new loans, repayments

Quick Summary:

Company says it has secured multiple low-cost new loans to replenish its liquidity and increase the proportion of yuan loans as it seeks to control financing costs.

NWD announced on Monday that it was able to secure multiple low-cost new loans to replenish its liquidity and increase the proportion of yuan loans to reduce overall financing costs.

The city’s base rate remains at 5.75 per cent after the US Federal Reserve kept its target rate unchanged this month, with just one cut expected this year.

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Article Details

Author / Journalist: Aileen Chuang

Category: Business

Markets: Hong KongChina

Topics: Billion Interest Cent Hong Yuan Kong Costs Loans Rate Development World

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-24 @ 20:30:26 (6 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 592 words

Reading Time: 4 minutes read

Sentences: 18 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21366957

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