Debt-Laden HNA Met With Chinese Banks for Financing Talks
- Eight banks’ Hainan branches met with HNA on providing credit
- Meeting comes after HNA units faced surging borrowing costs
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Debt-laden Chinese conglomerate HNA Group Co. met with Chinese lenders for talks on financing next year, after borrowing costs surged in recent weeks and prompted some units to scrap bond offerings.
Representatives from eight Chinese banks’ branches in the southeastern province of Hainan, where HNA is based, met with the group Wednesday on providing credit support in 2018, the company said in a statement posted on its WeChat account. It didn’t say how much in credit lines the lenders will provide next year. Group unit bonds and shares rose.