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-0.000607410406964996 -0.000607410406964996 -0.00202470135654999 -0.00263211176351498 -0.00192751569143562 0.00128231085914826 -0.00291556995343198 -0.0047917932105015
Stock impact report

New World Seeks $2 Billion Loan Pledging Prized Hong Kong Asset [Yahoo! Finance Canada]

Ares Management Corporation Class A (ARES) 
Last ares management corporation class a earnings: 2/13 06:00 am Check Earnings Report
US:NYSE Investor Relations: ares-ir.com
Most Read from Bloomberg The company sent proposed terms of the three-year loan to banks in recent days, the people said, adding that proceeds will be used for the prepayment, repayment, purchase or repurchase of the company's existing debt, without elaborating. Victoria Dockside, which houses luxury mall K11 Musea, is worth about HK$88 billion ($11.3 billion) based on an assumed price of about HK$30,000 per square foot, according to Bloomberg Intelligence calculations. That would represent around 20% of New World's HK$445 billion in total assets. New World, controlled by the family empire of Hong Kong tycoon Henry Cheng, faces one of the highest debt burdens among Hong Kong developers, as the city remains mired in a long property slump. The latest loan talks come as the company is still in discussions on two other potential loans, in a bid to refinance borrowings that are set to mature this year and beyond. A New World spokesperson said that the company continues to engage w Show less Read more
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