CWT International Ltd, a unit of China's indebted HNA Group Co Ltd, said on...
HONG KONG - CWT International Ltd, a unit of China’s indebted HNA Group Co Ltd, said on Tuesday it defaulted on a HK$1.4 billion loan, and that it has less than 24 hours to pay funds due or lose assets pledged as collateral.
Among assets pledged is wholly owned CWT Pte Ltd, a holding firm for HNA’s commodity marketing, engineering, finance and logistics services. Other assets pledged include properties in Britain and the United States and golf courses in China. Aviation-to-financial services conglomerate HNA bought the Singapore-based firm for $1 billion in December 2017 via wholly owned subsidiary HNA Belt and Road Investments Singapore. It then merged the firm with one of its Hong Kong-listed units and named the resulting entity CWT International.
The group said it remains confident in the financial and business operations of CWT and does not anticipate the default will result in any disruption to business or wider impact on CWT or elsewhere in the group.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
HNA unit CWT International defaults on $179 million loan, faces asset seizureCWT International Ltd, a unit of indebted HNA Group Co Ltd, on Tuesday said it d...
Lire la suite »
HNA unit CWT International defaults on $179 million loan, faces asset seizureCWT International Ltd, a unit of indebted HNA Group Co Ltd, on Tuesday said it d...
Lire la suite »
Pulling heartstrings and purse strings: Grandparents spend $179 billion annually on their grandkidsThe average yearly outlay is $2,562, although some grandparents are spending far more on college costs for the grandchildren.
Lire la suite »
Bashir ouster rekindles interest in long-defaulted Sudan loansIn the hazy world of distressed debt trading, the fall of Sudan's autocrati...
Lire la suite »
Exclusive: HNA-linked Hong Kong Airlines seeks $255 million from backers to keep license - sourcesHong Kong Airlines shareholders have demanded to see 2018 accounts before consid...
Lire la suite »
Exclusive: HNA-linked Hong Kong Airlines seeks $255 million from backers to keep licenseHong Kong Airlines shareholders have demanded to see 2018 accounts before consid...
Lire la suite »
UnitedHealth sees minimal impact from rebate system overhaulUnitedHealth Group Inc said on Tuesday it expects minimal impact to its margins ...
Lire la suite »