Sep
02
HNA Is Starting to Trim Down One of China’s Biggest Debt Piles
By-
Total debt fell for first time after company sold off assets
- More HNA disposals on the way, such as buildings in Manhattan
China’s embattled HNA Group Co., which has managed to reduce one of the country’s biggest debt piles by selling off dozens of assets, will probably need to slim down even further before regaining the trust of investors.
The conglomerate’s 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 Is Starting to Trim Down One of China’s Biggest Debt Piles
