Sep
02
HNA’s Debt Declines for First Time, Shrinking by $8.3 Billion
By-
Total debt falls for first time after group sells assets
- More HNA disposals on the way, such as buildings in Manhattan
Though HNA Group Co. 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 year, according to figures derived from a half-year report dated Friday. It’s the first time the number has fallen, based on public data compiled by Bloomberg stretching back to 2005…
HNA’s Debt Declines for First Time, Shrinking by $8.3 Billion
