《大行》美銀證券:新世界(00017.HK)或需進行債務管理操作 母公司是否注資仍存不確定性
美銀證券發表報告,引述媒體報道指新世界發展(00017.HK)或即將達成一筆875億元的貸款再融資交易,在本月限期前已獲所有50間現有銀行貸款機構的初步同意。新世界發展昨日(23日)表示,其再融資談判仍在進行。
該行認為,進展符合預期,應能緩解市場對任何系統性風險的擔憂,但新世界發展的股價表現已反映允許公司恢復股權價值的最佳情景。該行信貸研究團隊認為,新世界發展或會進行負債管理操作,例如延長債券期限或降低票息,但仍認為其母公司周大福企業最終是否會注資存在不確定性,且新世界發展核心業務復甦需時。
該行維持對新世界發展「跑輸大市」評級,目標價3.7元。
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