Fosun Bonds Rout Puts Spotlight on Group’s $40bn Debt – FT

The sudden dumping of Fosun International’s property bonds last month has put the spotlight on Chinese businessman and investor Guo Guangchang, who is battling a massive liquidity crunch, with nearly $40 billion debt on the books, the Financial Times reported.

Moody’s sees the ‘contagion risk’ spreading across the world, the report said, adding that Guangchang has intensified efforts to boost liquidity through a wave of divestments that have exceeded $2 billion so far this year.

Read the full report: Financial Times.

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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