China NPL pioneer plans new $1 billion deal

Huarong AMC will launch its third international NPL auction in October, says official.

China's most innovative and dynamic asset management company AMC Huarong AMC HAMC will hold an auction of around $1 billion non-performing loans NPL formerly belonging to China's biggest bank, the state-owned Industrial and Commercial Bank of China ICBC. The landmark deal will take place in the third quarter of this year, according to a Huarong official and will be aimed at both international and domestic investors.

To date, Huarong is the only Chinese AMC to conduct an...

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