Fosun successfully completed the refinancing of approximately USD800 million loan

May 10, 2024 01:01 PM AEST | By Cision

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Fosun successfully completed the refinancing of approximately USD800 million loan — Image source: Kalkine Media

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HONG KONG, May 10, 2024 /PRNewswire/ -- Fosun International Limited (HKEX stock code: 00656, "Fosun International", "Fosun" or "the Company") has successfully completed the refinancing of its USD804 million loan due on 7 May 2024. As part of the refinancing process, the Company has successfully obtained a new syndicate loan of USD597 million, while the remaining was repaid through its own funds.

The Company collaborated closely with its banking partners and the syndicate of banks involved in arranging the new syndicate loan of USD597 million includes Bank of China (Macau), Bank of China (Shanghai), BNP Paribas, Bank of East Asia, Commerzbank, Hang Seng Bank, HSBC, Natixis, Qatar National Bank, and Standard Chartered. This new syndicated loan, the largest of its kind in the market thus far this year for a Chinese privately-owned enterprise, is a testament to Fosun's strong liquidity and the strong support it has received from domestic and foreign banks.

Fosun has established diversified financing channels, well-recognized financing capabilities and prudent financial policies, and has been proactively managing its debt duration and yield curve. Looking ahead, Fosun will continue to implement its core business-focused strategy and improve its operating capabilities in advantageous industries. It will continue to optimize its debt structure and strengthen liquidity management to prepare for the next phase of steady development.

About Fosun

Fosun was founded in 1992. After more than 30 years of development, Fosun has become a global innovation-driven consumer group. Adhering to the mission of creating happier lives for families worldwide, Fosun is committed to creating a global happiness ecosystem fulfilling the needs of one billion families in health, happiness and wealth. In 2007, Fosun International Limited was listed on the main board of the Hong Kong Stock Exchange (HKEX stock code: 00656). As of 31 December 2023, Fosun International's total assets amounted to RMB808.4 billion; it received an AA MSCI ESG rating and was the only conglomerate in Greater China with such rating.

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