Exclusive: Fosun Lines Up $1.8 Billion Syndicated Credit Line

Debt-laden private conglomerate Fosun International Ltd. secured a long-sought credit line of 12 billion yuan ($1.8 billion) from a group of banks led by state-owned Industrial & Commercial Bank of China Ltd., Caixin learned from the lenders and people familiar with the matter.

Shanghai Fosun High Technology Group Co., a key subsidiary of Fosun International, signed the loan agreements Thursday morning with the lenders, which also include China Minsheng Bank, Shanghai Pudong Development Bank and HSBC Bank (China) Co. Ltd.