Cash-strapped Chinese group HNA has stepped up efforts to restore confidence and bolster its balance sheet, announcing that top executives and board directors have bought bonds guaranteed by the company, whose finances are “very healthy”.
The company did not disclose the amount of dollar bonds bought or the names of the investors. But it added that it is in a “very healthy financial position”, with total assets of Rmb1.5tn ($236bn) as of the end of last year.
HNA said in an emailed statement on Wednesday that some senior staff and directors bought offshore US dollar-denominated bonds backed by the company in a sign of “full confidence”.
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