Huarong Wires Funds to Repay $300mn Bond
Embattled bad debt manager, China Huarong Asset Management has provided some relief to its creditors after it wired $300mn to pay its 3.3% 2021’s due on Thursday. The company, one of the four biggest distressed asset management firms in China, was reported to...
Huarong Said to Have Secured Funding from State Banks Till August
China Huarong Asset Management Co. is said to have closed funding arrangements with China’s state-owned lenders to repay debts due through “at least the end of August”, as per people familiar with the matter reported by Bloomberg. The sources added...
Huarong Says It Is Prepared To Pay Debt; No Change in State Support
China Huarong said that their liquidity position was “fine” and that they made “proper arrangement” and “adequate preparation” for future bond payments. In a response to Bloomberg, Huarong also said that “At present, there is no factual basis to indicate any change in...
