May
26
Lending in China Is So Risky That Cows Are Now Collateralized
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China Huishan Dairy sells 50,000 cows and leases them back
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Company raising cash after spending millions on share buyback
In the creative world of Chinese lending, there’s a new trade in town: the cow leaseback.
China Huishan Dairy Holdings Co., which operates the largest number of dairy farms in the country, is selling about a quarter of its herd -– some 50,000 animals — to Guangdong Yuexin Finance Lease Co. for 1 billion yuan ($152 million) and then renting them back…
Lending in China Is So Risky That Cows Are Now Collateralized
