Overview

• The deferment applies to coupons on four perpetual notes as part of managing its HK$210.9 billion liabilities.
• Its 6.15 percent and 4.8 percent perpetual securities plunged to record lows, trading around 23 and 15.5 cents on the dollar.
• Shares slid as much as 11 percent on June 2, marking the steepest intraday drop in nearly two months.
• Banks have provided written commitments covering 60 percent of the HK$87.5 billion refinancing target due by the end of June.
• New World reported its first annual loss in 20 years for the year ended June 2024, weighing on investor confidence.