by Amruth Sundarkumar | Jan 20, 2023 | Distressed / Defaulted Bonds
Hong Kong Airlines said that it will defer a coupon payment on its $683mn 15.758% Perp yet again. The company, part of the struggling part HNA Group has been deferring coupons since July 2020 on the Perp issued by Blue Skyview. The note is guaranteed by Hong...
by Amruth Sundarkumar | Sep 29, 2022 | Corporates, Distressed / Defaulted Bonds, Hong Kong
To avert insolvency, HK Airline has planned for an HK$ 49bn ($6.2bn) debt restructuring through UK and Hong Kong courts. The HNA Group carrier stated, “HK Airline is seeking court approval to convene meetings of its creditors and put forward its restructuring...
by Amruth Sundarkumar | Sep 13, 2021 | China, Distressed / Defaulted Bonds
HNA Group’s administrators have identified strategic investors for its airline and airport businesses. For its airline business, Liaoning Fangda Group Industrial Co. will be the investor and for its airport business, Hainan Development Holdings Co. will be the...
by Amruth Sundarkumar | Aug 11, 2021 | China, Distressed / Defaulted Bonds
Heavily indebted and distressed Chinese conglomerate, HNA Group, whose debts amount to at least $187bn, has been reported to delay the submission of a proposal for the restructuring of its airlines-to-property business by three months. Sources said that China’s three...
by Amruth Sundarkumar | Jul 21, 2021 | China, Distressed / Defaulted Bonds
Chinese conglomerate HNA Group faces debt claims filed by 60,000 retail investors worth over $4.6bn, as it struggles in a long bankruptcy restructuring. HNA, along with its 320 affiliates, entered bankruptcy restructuring in 2021 with the company facing a total debt...
