HNA Signs $4.6 Billion Credit Pact With China Constructionby
HNA Group signed an agreement for a 30 billion yuan ($4.6 billion) credit from China Construction Bank Corp. and will cooperate with the lender in areas including investment banking and cash management.
China Construction’s Hainan branch and HNA Group also will jointly set up an industry fund to raise as much as 20 billion yuan, the two groups said in an e-mailed statement Thursday. The agreements were signed May 3, according to the statement.
The pacts would enable “cooperation in other areas such as banking, securities, trusts, finance leases, fund management and insurance,” Adam Tan, chief executive officer of HNA Group, said in the statement.
Two calls to HNA Group’s press office went unanswered.