Chinese finance-to-aviation conglomerate HNA on Monday paid the Rmb1bn ($147m) principal on a bond after missing the payment on Friday due to what it said was a glitch in the interbank transfer system.
The payment of the bond principal averts the closest call yet for HNA, which delayed or extended debt during a liquidity crisis in the fourth quarter of 2017. It has since sold about $18bn in assets, according to company statements and data from Thomson Reuters.
The 270-day bond that came due on Friday was issued during HNA’s tense period last year. On Friday, HNA did manage to pay the Rmb54m in interest due, thus averting an official default.
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