Summary by Moomoo AI
New World Development Limited (the “Company”) announced the repurchase of certain debt securities on the public market between December 20, 2023 and January 3, 2024, including guaranteed notes due 2029, guaranteed notes due 2030 and guaranteed senior sustainable capital securities issued in 2020, total repurchases The principal amount is $20,431,000. The action aims to increase earnings per share and improve the net debt ratio by reducing future interest expense, reducing distributions to holders of sustainable capital securities, and confirming profits on repurchases at a discount. The Company will continue to review market conditions and may continue to repurchase debt securities at the appropriate time. Bondholders and potential investors should note that the Company does not guarantee the timing, amount or price of the repurchase and should proceed with caution. THE MEMBERS OF THE BOARD OF DIRECTORS OF THE COMPANY INCLUDE EXECUTIVE DIRECTORS, NON-EXECUTIVE DIRECTORS AND INDEPENDENT NON-EXECUTIVE DIRECTORS, AND THE LIST OF DIRECTORS OF THE ISSUERS OF NOTES AND SECURITIES ISSUERS HAS ALSO BEEN PUBLISHED.