Hong Kong's New World secures two yuan loans to lower funding costs, source says By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 29 2024
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Source: Investing.com
New Loans Secured: Hong Kong property developer New World Development has secured two onshore loans totaling 1.4 billion yuan ($193 million) to lower funding costs, with interest rates significantly lower than its offshore loans.
Shift to Yuan Financing: The company is increasing its reliance on yuan-denominated financing to mitigate the impact of rising USD interest rates and yuan depreciation, reflecting a broader trend among Hong Kong developers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
