Caixin
Jan 13, 2023 02:55 AM
BUSINESS

Exclusive: Fosun Lines Up $1.8 Billion Syndicated Credit Line

In 2022, Fosun Group sold or announced plans to sell nearly 40 billion yuan of assets.
In 2022, Fosun Group sold or announced plans to sell nearly 40 billion yuan of assets.

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.

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