HNA Group, the acquisitive Chinese conglomerate, returned to the international bond markets on Thursday, raising $300 million through the sale of an unrated three-year bond.
Despite being a household name in China, the privately-held company which owns Hainan Airlines, China's fourth largest airline had generated only $800 million of orders before giving out final price guidance, highlighting investors' concerns over its growing leverage. The group and its affiliates have announced takeovers and investments worth at least $19 billion since 2009, while generating about $30 billion of revenue per year.
The Hainan-based company has unveiled more than $9 billion worth of outbound investments this year, including the...
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