Debt-laden Fosun upsizes loan to $800m

Debt-laden Fosun International increases size of three-year loan to $800 million amid keen interest from Asian lenders.

Fosun International increased the size of its three-year loan by $300 million to $800 million in response to robust interest from banks, a source familiar with the matter said on Thursday.

Appetite for the Chinese conglomerate founded by billionaire Guo Guangchang was strong as lenders bought into group's business strategy and shrugged off its high debt levels.

It’s a very acquisitive company and there has been much fervour from the Asian banks that have anchored the deal, the source said. It’s a global credit now, with businesses in the US, Europe and Australia.

¬ Haymarket Media Limited. All rights reserved.

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