Goldman Seeks to Buy Part of Hong Kong Builder New World’s Loan
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Goldman Sachs Group Inc. has sought to purchase a portion of New World Development Co.’s loans at a discount, an indication of how one potential investor would value the debt of a builder that’s become a poster child of Hong Kong’s property woes. The US investment bank had approached some lenders involved in the record $11 billion loan extended to New World in June, according to people familiar with the matter. Goldman is willing to buy the debt at a discount of at least 15 cents on the dollar, the people said, who asked not to be identified discussing private matters.