December 20, 2018

Noble Group Ltd. finally completed its mammoth debt-for-equity restructuring, handing control of its assets to creditors as Singapore regulators continue to probe the commodity trader and its officers for possible breaches of the law.

After its preferred rescue plan was blocked by Singapore’s refusal to let it relist in the city-state, Noble pursued its Plan-B in Bermuda, where a...

November 25, 2018

It’s been a tough couple years for Pactera Technology International Ltd.

The tech outsourcing arm of embattled Chinese conglomerate HNA Group Co. has been ditched by Bank of America Corp. and Goldman Sachs Group Inc., sued over a collapsed acquisition and cut deep into junk territory by Moody’s Investors Service.

Now it turns out that a rare piece of s...

September 3, 2018

HONG KONG – Though HNA Group Co. has managed to reduce one of China’s biggest debt piles by selling off dozens of assets, the embattled Chinese conglomerate will probably need to get much slimmer before regaining the trust of investors.

Total debt fell 9.5 percent to 541.6 billion yuan ($79 billion) at the end of June, down about $8.3 billion from a record set at the end of last y...

August 20, 2018

HONG KONG • HNA Group chairman Chen Feng this month promoted two family members as key lieutenants, tightening his family's control over the embattled Chinese conglomerate after the sudden death of a top executive.

His son is now deputy chief executive officer of the group and will be responsible for HNA's global business, said sources. The 65-year-old chairman also named his neph...

July 9, 2018

(Bloomberg)—HNA Group Co. Chairman Chen Feng will step up his role in managing the liquidity challenges at one of China’s most indebted companies after the sudden death of his No. 2 executive this week.

Chen will assume the duties of Wang Jian, the late 57-year-old co-chairman who died while sightseeing in a French village this week, the company said in a statement Friday. Adam Ta...

July 4, 2018

For HNA Group Co. leader Chen Feng, the sudden death of his No. 2 raises the pressure for the Chinese tycoon to step up his involvement in fixing the finances of a group saddled with more than $90 billion in debt.

The late Wang Jian, the junior of HNA’s two chairmen, died while sightseeing in a French village this week at a time the group was undertaking an urgent r...

July 4, 2018

HNA Group Co., the airline-to-bank-to-hotel conglomerate that’s been selling billions of dollars in assets this year, said Wednesday that Co-Chairman Wang Jian died after an accident on Tuesday.

Wang Jian

Here’s what observers say.

Warut Promboon, managing partner at credit research firm Bondcritic Ltd.:
“If this is a company with proven corporate governance, we won’t have to worry....

March 19, 2018

Noble Group Ltd. is racing against time to garner enough votes for a debt restructuring plan after its decision not to pay a $379 million bond due Tuesday sets it on course for its first note default.

The failure to make payment will prompt an “event of default” under the terms of its bond documents. The company has opted for non-payment to preserve assets “for the benef...

February 13, 2018

HNA Group Co., the once-voracious hunter of global trophy assets, is seeking to sell more than $6 billion in properties worldwide as pressure intensifies for the Chinese conglomerate to speed up disposals so it can repay its debts.

The group on Tuesday said it agreed to sell two plots of land in Hong Kong it bought less than a year ago for HK$16 billion ($2 billion) to the city’s...

February 11, 2018

Avolon's direct parent company, Bohai Capital, plans to issue shares to fund a revamp of the aircraft lessor's ultimate parent, the HNA Group.

The money will be used to buy assets from another HNA subsidiary as part of an overhaul at the debt-laden Chinese conglomerate.

Bohai Capital plans to buy a stake in an unnamed trust company and some financial assets from HNA Group and relat...

February 1, 2018

China’s Great Fire Sale may have begun. HNA Group Co., the indebted Chinese aviation-to-hotels conglomerate, told creditors it will seek to sell about 100 billion yuan ($16 billion) in assets in the first half of the year to repay debts and stave off a liquidity crunch, according to people familiar with the matter, who asked not to be identified because the discussions were priva...

January 30, 2018

(Jan 30): Noble Group Ltd has finally reached a deal to restructure US$3.5 billion in debt, saving the beleaguered commodity trader from bankruptcy.

The in-principle agreement will convert half of its debt — about US$1.7 billion — into new equity, the company said on Monday. While the plan still needs approval from all parties, Chairman Paul Brough, who had pledged from the beginn...

December 14, 2017

[HONG KONG] Debt-laden Chinese conglomerate HNA Group met with Chinese lenders for talks on financing next year, after borrowing costs surged in recent weeks and prompted some units to scrap bond offerings.

Representatives from eight Chinese banks' branches in the southeastern province of Hainan, where HNA is based, met with the group Wednesday on providing credit support in 2018,...

December 4, 2017

Units of HNA Group Co. are stepping up fundraising in the local bond market even as borrowing costs soar, adding to concerns about the Chinese conglomerate’s debt burden.

Yunnan Lucky Air Co., a unit of Hainan Airlines Holding Co. -- HNA’s flag carrier -- sold a 270-day yuan bond to yield 8.2 percent last week, the highest coupon rate ever for the Yunnan airline. Tianjin Airlines...

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