Offshore unit of China's HNA Group approaches liquidity crunch
Cash and current assets of HNAI cover its current liabilities with just 8% headroom, down from 26% earlier
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Hong Kong
THE short-term debts of HNA Group's main offshore fundraising arm are close to outstripping its ability to meet them, according to figures provided in documents for the acquisitive Chinese conglomerate's most recent bond deal, where the unit paid almost 9 per cent for a one-year loan.
The documents contain figures for the first nine months of 2017, and show that the cash and current assets of HNA Group International Company Limited (HNAI) cover its current liabilities - debts and payments due within a year - with just 8 per cent headroom, down from 26 per cent at the end of 2016.
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