“The company continues to manage its overall financial indebtedness whilst taking into account the current market volatility and continues to comply with its existing financial obligations,” a New World spokesperson said.
New World Development Co. said that it plans to defer coupon payments due in June on perpetual bonds, as a deadline neared for the cash-strapped builder to notify holders of its decision.
The company said it has notified all holders of two perpetual securities with scheduled coupon payments on June 9 and June 10 that it has elected a deferral, according to a Friday filing to the Hong Kong Stock Exchange. It added that it intends to defer payments on two other bonds originally scheduled later next month.
