New World locks up $700m perp

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By Morgan Davis
03 Dec 2020

Hong Kong property company New World Development Co used a fixed-for-life perpetual structure to net $700m on Wednesday.

The borrower is not new to the fixed-for-life structure, but it eased back into it after selling two other standard bonds in 2020 amid a challenging backdrop. New World sold its first 2020 bond in May, nabbing $600m from a 4.5% 10 year deal. In June, it ...

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