Investors will be closely watching HNA Group Co. as $500 million of dollar bonds mature this week, testing the debt-laden Chinese conglomerate’s repayment ability, Bloomberg News reported. A $200 million bond issued by HNA Group International will come due Jan. 23, while its $300 million note is set to mature a day later, according to Bloomberg-compiled data. HNA Group International declined to comment when reached by Bloomberg via email. HNA Group Chairman Chen Feng predicted last month that 2020 will be “the decisive year to win the war” against its long-running liquidity challenges.

Wang Yizhi sensed an opening last July when local investors raced to dump the debt of Future Land Development, a Shanghai-based developer, after the arrest of its founder on sexual abuse charges, the Financial Times reported. Shortly after the scandal broke, Mr Wang, general manager of Raman Capital, bought four-year bonds for 88 cents on the dollar. Within weeks, he had sold them for 95 cents, after the developer put dozens of projects on sale to improve its cash flows.

India’s great telecom melee was bad enough as a brawl between service providers and the state, with operators complaining about the government’s outlandish claims on their past revenue, Bloomberg News reported in a commentary. Now, consumers have jumped into the fray. A confusing three-cornered fight could lead to ugly outcomes: The country’s broken financial system would take a fresh hit; new 5G networks could be delayed; and the government’s annual revenue from the sector might get squeezed.

Most of China’s provinces are expecting slower economic growth in 2020, underlining the nationwide trend which is expected to result in a tweaking of the formal goal when the legislature meets in March, Bloomberg News reported. Twenty-two of 31 major cities, provinces and autonomous regions have so far cut their 2020 target for gross domestic product expansion, according to their work reports which lay out plans for this year. Twelve provinces, which made up 42% of China’s economic output at the end of September last year, expect growth at around 6% or lower this year.

Lenders to Altico Capital India Ltd. are trying an unusual method to cut debt at the shadow lender, as attempts to sell the company or restructure the loans face challenges including swelling soured credit and a funding squeeze, Bloomberg News reported. Creditors have asked each other to bid for an asset swap that would make real estate firms, until now funded by Altico, liable to directly repay the debt, according to people familiar with the matter.

Bankrupt Indian airline Jet Airways Ltd said it had agreed to sell its assets in Netherlands to Dutch airline KLM, Reuters reported. If the deal is finalised, it will only involve a sale of part of the company’s business and not impact the shareholding pattern, Jet said in a statement dated Jan. 16. It did not detail the assets held in Netherlands. Once India’s biggest private carrier, Jet stopped flying in April after running out of cash, leaving thousands without jobs and pushing up air fares across the country.

India’s Supreme Court ruled that wireless carriers including Bharti Airtel Ltd. and Vodafone Idea Ltd. need to pay $13 billion of dues to the government, rejecting an appeal by operators struggling to stem losses and reduce debt, Bloomberg News reported. A three-judge Supreme Court bench headed by Justice Arun Mishra on Thursday dismissed review petitions filed by the telecommunication companies against the October verdict, according to updates on the court’s website.

A Deutsche Bank-led consortium’s efforts to buy out the debt of a power plant operator in eastern India have advanced, after no rival bidder emerged, Bloomberg News reported. The struggling utility is Jindal India Thermal Power Ltd., one of a string of power plants being put up for sale by banks stuck with their defaulting debt. The sector has been hit hard by oversupply in recent years, a consequence of a costly push to bridge India’s once chronic power deficit and expand reach to under-supplied rural areas. Power generators form a significant chunk of India’s $130 billion bad loan pile.

Amid rising defaults and tighter liquidity for Chinese privately-owned enterprises, the nation’s banks are letting some companies fail, something Deutsche Bank AG says presents bigger opportunities for foreign investors in troubled debt, Bloomberg News reported. The German lender is an active distressed player in Asia Pacific and has bet on some of the biggest restructuring in the region, including commodities trader Noble Group Ltd. China is taking steps to allow more foreign investment into the country’s 2.37 trillion yuan ($344 billion) non-performing loan market. It will give U.S.

Shandong Ruyi is facing serious disruption to its access to cotton supplies after the company, once hailed as the “LVMH of China”, was placed on an industry blacklist that will halt much of its trading in the commodity with major global groups, the Financial Times reported. Details from a recent arbitration case with a Bangladeshi group, in which Shandong Ruyi was ordered to pay compensation but has not, have also shone a spotlight on the extent of the Chinese company’s difficulties in paying off debts.