New World to Cut Perpetual Security Debt by $1 Billion Via Swap

Distressed Hong Kong builder New World Development Co. said that it expects to cut a portion of its debt, which ranks it as one of the most indebted builders in...

By Pearl Liu, Trista Xinyi Luo · Bloomberg

Distressed Hong Kong builder New World Development Co. said that it expects to cut a portion of its debt, which ranks it as one of the most indebted builders in the city, after an early deadline to accept a plan to swap some of its bonds.