HNA Group Repays Dollar Bond After Missing Yuan Note Payment
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HNA Group Co. repaid a dollar-denominated bond on Monday amid a report China’s provincial government offered to help the debt-laden conglomerate meet payments to its offshore creditors.
HNA Group International, a unit of HNA Group, repaid a $300 million bond due Aug. 18, a company spokesperson told Bloomberg, saying “we remain committed to meeting our financial obligations.” REDD reported last week that the Hainan government would provide 1 billion yuan ($142 million) to HNA Group to help it repay that bond. Its $200 million bond due 2020 rose to a three-week high in Hong Kong.