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UBS Said to Halt Acceptance of Certain NWD Securities as Collateral for Margin Loans
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UBS has stopped accepting certain bonds and shares of NEW WORLD DEV (00017.HK) as collateral for margin loans, Bloomberg reported, citing sources familiar with the matter. It is understood that UBS' wealth management division has reduced such loans in recent weeks, while the private banking arms of Citi and HSBC also halted accepting NEW WORLD DEV's securities as collateral for margin loans several months ago. There were rumors this morning that NEW WORLD DEV has provided properties valued at US$15 billion (around $116.7 billion) as collateral for loan refinancing with a view to refinancing $58.1 billion unsecured loans maturing in 2025 and 2026. AAStocks Financial News |
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