NEW WORLD DEV (00017.HK): VD Facility Raised to HK$4.9 Billion
NewTimeSpace News: On 30 September 2026, New World Development Company Limited (stock code: 00017.HK) made a voluntary announcement disclosing the financing arrangements entered into by the Group in respect of the property known as Victoria Dockside. In June 2026, certain members of the Group (as borrower and/or obligor) and Deutsche Bank AG (as arranger, original lender and agent) entered into a facility agreement with an initial committed tranche of HKD 3.95 billion (the VD Facility).
The announcement showed that the VD Facility is secured by a first ranking mortgage over Victoria Dockside and the assets related to Victoria Dockside, which comprises five major components, namely K11 ARTUS, K11 ATELIER, K11 MUSEA, Rosewood Hong Kong and certain carparks. The VD Facility replaced a prior facility which benefitted from the same security package over Victoria Dockside.
In September 2026, the relevant parties entered into an amendment agreement, pursuant to which the lenders' commitments under the VD Facility were increased to HKD 4.9 billion. The VD Facility continues to be available to certain members of the Group for the Group's ordinary course financing activities. In addition to such increase in the commitments under the VD Facility, the Group continues to obtain, in the ordinary course of its business, project loans from time to time for its property development projects in Hong Kong and the Chinese Mainland.
Shareholders and potential investors were advised not to rely on market rumours in relation to the Group, and that any information concerning the Group should only be based on the Company's official announcements.
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