by Amruth Sundarkumar | Apr 18, 2023 | China, High Yield Bonds
Dollar bonds of Fosun Group dropped by 5-8% after its ratings withdrawal by Moody’s due to insufficient information. Fosun’s dollar bonds have been under pressure this year, losing ~20% of its value. The company is trying to manage its liquidity position...
by Amruth Sundarkumar | Apr 14, 2023 | China, High Yield Bonds
Dollar bonds of Fosun International fell by ~4 points across its 2025s to 2027s. While there was no specific news available to attribute to the price drop, Assicurazioni Generali is nearing a deal to sell its Deutschland Pensionskasse AG unit to a German firm...
by Amruth Sundarkumar | Apr 3, 2023 | China, High Yield Bonds
Fosun Group has agreed to sell its 60% stake in the parent company of Nanjing Iron & Steel Co. to a unit of CITIC Ltd for $2bn. This move comes after Fosun had initially terminated a plan to sell its stake to Jiangsu Shagang Group Co., another iron and steel...
by Arundhati Behera | Mar 15, 2023 | China, Credit Ratings, High Yield Bonds
Chinese conglomerate Fosun International announced that it will be offloading its 60% stake in Nanjing Nangang Iron & Steel United to Jiangsu Shagang for RMB 13.58bn ($1.98bn). This comes after the initial announcement in October last year and translates to a gain...
by Amruth Sundarkumar | Jan 6, 2023 | China, High Yield Bonds
Fosun’s dollar bonds jumped by over 5% as it agreed to sell its stakes in four companies for a a total of RMB 6.7bn ($975mn). It would sell a 25.7% stake in Tianjin Jianlong Iron & Steel Industrial and 26.7% in Beijing Northern Jianlong Industrial, Jianlong...
