Chinese banks are being encouraged to participate in HNA bond issuance by the Chinese government, reports The Financial Times. HNA plans to issue RMB4bn ($620 million) in three-year domestic bonds, paying 6.5-7.5%, through Bohai Financial in three tranches. The first trance will not exceed RMB2bn, according to the report. At a creditors’ meeting co-ordinated by an official from China’s central bank, lenders were urged to “support” HNA’s bonds. In April, HNA confirmed its debts stood at $94bn at the end of 2017. The bond raising is part of its plan to reduce its debt burden and shrink to focus once

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