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HNA Turns to Private Equity for Funding with Share Pledge

HNA Group, the heavily leveraged Chinese conglomerate, has turned to private equity company Pacific Alliance Group for finance amid pressure to raise cash and cut its debt, the Financial Times reported. Hainan-based HNA, which started as an airline c ...

Daily Headline - global.abi.org - 02/21/2018 - 23:03 - 0 comments

HNA Versus S&P: Debate Over Chinese Group's Finances Heats Up

S&P Global Ratings stepped up its scrutiny of HNA Group Co. by cutting its credit assessment for the second time in less than three months as the debt-laden Chinese conglomerate renewed a defense of its "very healthy" finances, Bloomberg Ne ...

Daily Headline - global.abi.org - 02/14/2018 - 21:40 - 0 comments

China's Debt-Laden Dealmakers Eyed by Restructuring Firms

Chinese deal makers that racked up debts for overseas deals and are now reversing course to pay down borrowings have attracted the attention of restructuring specialists, Bloomberg News reported. As President Xi Jinping steps up leverage curbs, borrowing ...

Daily Headline - global.abi.org - 02/13/2018 - 23:46 - 0 comments

Debt Binge Leaves Chinese Regional Companies on Brink of Default

Companies controlled by Chinese local governments have avoided defaulting on their bonds so far. They will not continue to be so lucky, the Financial Times reported. Officials are taking a regulatory axe to the implicit supports that have allowed hun ...

Daily Headline - global.abi.org - 02/14/2018 - 00:08 - 0 comments

Wall Street Banks That Fed on HNA's Rise Now Get to Dismantle It

Wall Street bankers gorged on fees from HNA Group Co. as they helped the debt-laden Chinese conglomerate clinch $55 billion of acquisitions around the world. They’re set for another bonanza as the company offloads some of those same purchases to stave of ...

Daily Headline - global.abi.org - 02/11/2018 - 22:27 - 0 comments

S&P Global Wants In on China's $11 Trillion Bond Market

S&P Global Inc. plans to offer its ratings services in the Chinese domestic bond market, with an eye on buying a majority stake in a local agency or setting up a new entity there to do so, its chief financial officer said. The world’s largest credit ...

Daily Headline - global.abi.org - 02/07/2018 - 21:53 - 0 comments

Alibaba Buys Stake in Wanda Film in $1.2 Billion Share Sale

Alibaba Group Holding Ltd. has agreed to buy a stake in Dalian Wanda Group Co.’s cinema operator as billionaire Wang Jianlin’s real estate-to-entertainment conglomerate turns to another Chinese tech giant and a government-backed company for investments t ...

Daily Headline - global.abi.org - 02/05/2018 - 21:31 - 0 comments

Alibaba Deepens India Push With BigBasket Investment

China's Alibaba became the biggest shareholder in India's leading online grocer BigBasket after a $300-million funding round, stepping up its rivalry with Amazon in the country, the International New York Times reported on a Reuters story. ...

Daily Headline - global.abi.org - 02/05/2018 - 00:32 - 0 comments

China Default Angst Flares After Rare Case With Junk Bond

A rare event in a corner of China’s credit market is fueling concern that more defaults are looming, adding to strains sparked by the government’s crackdown on leverage, Bloomberg News reported. A timber company in the country’s northeast decided this we ...

Daily Headline - global.abi.org - 02/01/2018 - 20:32 - 0 comments

HNA Targets $16 Billion in Asset Sales in First Half

News reported. Under the proposal, about 80 percent of that would be executed in the second quarter, ...

Daily Headline - global.abi.org - 01/31/2018 - 20:27 - 0 comments

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