NWDEVL 4.800% Perpetual Corp (USD)

Bond Factsheet

Trading without Accrued Interest

NWD Finance (BVI) Limited

Indicative

Full Lot

Bid Price

46.500

Change in Bid Price

remove 0.125

Bid Yield (%)

0.530 %

Change in Bid Yield

0.002

Ask Price

48.250

Change in Ask Price

remove 0.125

Ask Yield (%)

0.504 %

Change in Ask Yield

0.001

Indicative price as of 02 Oct 2026, 4:33pm

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Bond Information

NWD Finance BVI Ltd operates as a special purpose entity. The Company was formed for the purpose of issuing debt securities to repay existing credit facilities, refinance indebtedness, and for acquisition purposes.

Bond Issuer

NWD Finance (BVI) Limited

Guarantor

New World Development Co Ltd

Announcement Date

02 Dec 2020

Issue Date

09 Dec 2020

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 0.081

Modified Duration

0.009 @ 02 Oct 2026

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

4.800

Coupon Type

Fixed

Annual Coupon Rate

4.800

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

Accrued Interest

Trading without

ISIN

XS2268392599

CUSIP

BM8780116

Bond Currency

USD

Total Issue Size

700,000,000

Outstanding Issue Size

159,801,000

Min. Investment Quantity (Nominal)

USD 200,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

High Yield Corporate

Bond Sector

Financials

Bond Sub Sector

Real Estate Management and Development

Issuer Credit Rating (S&P/ Fitch)

***/ N.R

Bond Credit Rating (S&P/ Fitch)

***/ N.R

Shariah Compliant

Exchange Listed

HKEX

Bond Feature(s)

Deferral Interest Payment

Cumulative Deferral

Any Distribution deferred pursuant to this Condition 4(d) shall constitute ''Arrears of Distribution''. The Issuer may, at its sole discretion, elect to further defer any Arrears of Distribution by complying with the foregoing notice requirement applicable to any deferral of an accrued Distribution. The Issuer is not subject to any limit as to the number of times Distributions and Arrears of Distribution may be deferred pursuant to this Condition 4(d) except that Condition 4(d)(v) shall be complied with until all outstanding Arrears of Distribution have been paid in full.

Dividend Stopper

If on any Distribution Payment Date, payment of all Distribution payments scheduled to be made on such date is not made in full by reason of this Condition 4(d), the Issuer and the Guarantor shall not:

(A) declare or pay any discretionary dividends, distributions or make any other discretionary payment on, and will procure that no discretionary dividend, distribution or other discretionary payment is made on any of its Junior Securities or (except on a pro-rata basis) its Parity Securities provided that such restriction shall not apply to payments declared, paid or made in respect of an employee benefit plan or similar arrangement with or for the benefit of employees, officers, directors or consultants; or

(B) at its discretion redeem, reduce, cancel, buy-back or acquire for any consideration any of its Junior Securities or its Parity Securities, provided that such restriction shall not apply to an exchange by the Issuer or the Guarantor of any of its Parity Securities for Junior Securities or in relation to Parity Securities, on a pro-rata basis,

in each case unless and until (i) the Issuer or the Guarantor has satisfied in full all outstanding Arrears of Distribution; or (ii) permitted to do so by an Extraordinary Resolution (as defined in the Agency Agreement) of the Holders.

Dividend Pusher

3-month look-back dividend pusher

Issuer Call

The Securities may be redeemed at the option of the Issuer, in whole or in part, on any business day on or after 9 September 2023 (each, a "Call Date") on the Issuer's giving not less than 30 nor more than 60 days' notice to the Holders (which notice shall be irrevocable and shall oblige the Issuer to redeem the Securities on the relevant Call Date at their principal amount plus Distribution accrued and unpaid to such date (including any Arrears of Distribution and any Additional Distribution Amount, if any)), provided, however, that the principal amount of Securities outstanding after any partial redemption is at least U.S.$250,000,000.

Period	Redemption Price
On or after 9 September 2023	100%

Coupon Step

Increase in Distribution Rate

Upon the occurrence of a Change of Control, unless an irrevocable notice to redeem the Securities has been given to Holders by the Issuer pursuant to Condition 5(e) (Redemption and Purchase - Redemption for Change of Control) by the 30th day following the occurrence of the Change of Control, the Distribution Rate will increase by 3.00 per cent. per annum with effect from (i) the next Distribution Payment Date; or (ii) if the date on which a Change of Control occurs is prior to the most recent preceding Distribution Payment Date, such Distribution Payment Date.

Decrease in Distribution Rate

If following an increase in the Distribution Rate upon the occurrence of a Change of Control pursuant to Condition 4(c)(i) (Increase in Distribution Rate) such Change of Control is cured, remedied, no longer applicable or no longer continuing, then upon notification to the Holders and the Fiscal Agent accompanied by a certificate, signed by two directors of the Guarantor, stating that the Change of Control has been cured, remedied, is no longer applicable or is no longer continuing (as the case may be) and setting out the details of such circumstances, the Distribution Rate will decrease by 3.00 per cent. per annum with effect from the next Distribution Payment Date immediately following the date of the notification referred to in this Condition 4(c)(ii), provided that the maximum aggregate decrease in the Distribution Rate pursuant to this Condition 4(c)(ii) shall be 3.00 per cent.]

Change Control Call

Upon the occurrence of a Change of Control, the Issuer shall give notice to Holders and the Fiscal Agent in accordance with Condition 14 (Notices) by not later than 14 days following the first day on which it becomes aware of the occurrence of such Change of Control, stipulating that a Change of Control has occurred and whether or not it will redeem the Securities pursuant to this Condition 5(e).

''Change of Control'' occurs when:

(i) any Person or Persons acting together acquires Control of the Guarantor if such Person or Persons does not or do not have, and would not be deemed to have, Control of the Guarantor on the Issue Date;

(ii) the Guarantor consolidates with or merges into or sells or transfers all or substantially all of its assets to any other Person, unless the consolidation, merger, sale or transfer will not result in the other Person or Persons acquiring Control over the Guarantor or the successor entity; or

(iii) one or more Persons acquires the beneficial ownership of all or substantially all of the Guarantor's issued share capital;

''Control'' means the acquisition or control of more than 50 per cent. of the voting rights of the issued share capital of the Guarantor or the right to appoint and/or remove all or the majority of the members of the Guarantor's board of directors or other governing body, whether obtained directly or indirectly, and whether obtained by ownership of share capital, the possession of voting rights, contract or otherwise and the terms ''Controlling'' and ''Controlled'' shall have meanings correlative to the foregoing;

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Coupon Dates	Coupon Receive	Principal Amount	Cash Flow

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