November 15, 2019

The pile of negative yield bonds in global markets is shrinking fast, triggering debate if this means the economic outlook is turning positive.

While signs of an economic recovery are yet to be confirmed, one thing is for sure: such a decline rescues the global economy from a world where savings are discouraged and borrowers do not pay for credit risk undertaken by lenders. (The t...

  • Mainland property firms have issued more debt in the first 10 days of July than in whole of June

  • More home builders are expected to head for the offshore bond market in coming months, taking advantage of a good window for high-yield corporate issuance, experts say Chinese developers’

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July 9, 2019

A government crackdown on “irrational” overseas acquisitions forced China’s most aggressive dealmakers to shed some of their trophy assets in recent years, but Guo Guangchang looks set to reverse that trend.

The 52-year-old billionaire is often called the "Warren Buffett of China" for following the legendary American investor’s approach of using the cash flow from insurance o...

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...

November 21, 2018

SINGAPORE -- Noble Group has insisted it will press ahead with a vital $3.5 billion debt restructuring despite Singaporean authorities this week launching an investigation into "false and misleading statements" by the company, which was once Asia's biggest commodities trader.

Noble said Wednesday that "it will continue to work towards implementing its proposed restructuring w...

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 25, 2018

Singapore-listed Noble Group Ltd faces a make-or-break shareholders’ meeting tomorrow as investors vote on a $3.5bn debt restructuring plan that its creditors and board say is vital to prevent insolvency.

The company, once a global commodity trader with ambitions to rival Glencore or Vitol, has shrunk to an Asian-centric business focused on coal and freight trading after it slash...

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 20, 2018

HONG KONG • Singapore-listed Noble Group is racing against time to garner enough votes for a debt restructuring plan after its decision not to pay a US$379 million (S$500 million) bond due today sets it on course for its first note default.

Noble's shares plunged yesterday as investors weighed the consequences of the trader's decision not to pay the 2018 notes. The stock sank 19 p...

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...

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