HNA Can't Roll Over 1 Billion Yuan in Ultra Short-Term Borrowing

HNA subsidiary Tianjin Airlines planned a short-term borrowing of 1 billion yuan to pay maturing debt in three weeks. The offering has been canceled.
JRJ.com: 海航旗下天津航空兑付10亿超短融 借新还旧套路或中止
According to media reports, the Hainan Airlines Group Holdings Tianjin Aviation payment of a total size of 1 billion within three weeks of the ultra- short-term financing bills . Tianjin Airlines had previously planned to issue new ultra-short-term financing bonds to pay off old debt above, but the "market volatility" and canceled.
This follows the delayed payment on a P2P lending product:
It reported net loan House, Hainan Airlines Co., loan project finance in Phoenix "Phoenix overflow surplus -HHSY" failed to timely payment. Phoenix Finance said that since the beginning of 2016 for the Phoenix series overflow surplus -HHSY financing projects provide information intermediary services, the total balance of 514 million yuan. Among them, 6 February 2018, should repay the total amount of 298 million yuan, the borrower has repaid 60 million yuan, follow-up payment still in process.
HNA will have multiple products coming due all year long. Another 1.7 billion is coming due on Spring Festival, February 16. More here: Chinese Biggest Credit Risk Is Blowing Up, Fireworks Set for Spring Festival

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