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Bond Market News
Fosun Secures $500mn Refinancing Loan
March 23, 2026
Fosun International secured a ~$500mn multi-currency refinancing loan from about a dozen foreign banks including HSBC, JPMorgan, and Natixis. The proceeds from the 3Y facility will be used to refinance an existing $520mn loan due in April, which its management had pledged to prepay by end-March. The development comes despite Fosun warning of a net loss up to RMB 23.5bn (~$3.4bn) for FY2025, a near five-fold widening. The main driver for its net loss is its property business under Shanghai Yuyuan Tourist Mart, which accounts for ~55% of impairments stemming from underperforming residential projects and goodwill write-downs. Its controlling shareholders moved to stabilize sentiment by buying shares on the open market after the loss warning triggered a drop in the stock price. Despite the losses, Bloomberg Intelligence notes that Fosun has solid financial access, a smoother debt maturity profile, and a strong willingness to repay. The company has signaled ambitions to cut debt and eventually achieve investment-grade status. Separately, Fosun’s pharma unit Shanghai Fosun Pharmaceutical is seeking a €200mn ($231mn) loan for its own refinancing needs.
It’s dollar bonds traded stable. For instance, the 8.5% 2028s was at 100.9, yielding 8.04%.
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