HNA Shores Up Debt, Pledging Shares in Postal Savings Bank
Posted on 12/26/2017
Chinese conglomerate HNA Group Co. moved to increase liquidity on its massive balance sheet by using part of its equity position in state-owned Postal Savings Bank of China Co. to borrow money. HNA Group pledged some 919.3 million shares (a 4.13% stake) in Postal Savings Bank for the borrowing. The securities borrowing and lending agreement […]
