bullish

Fosun International

Fosun International - Event Flash - Tender Offer - Lucror Analytics

Credit
381 Views, 24 Jun 2022 15:44
EXECUTIVE SUMMARY


Fosun International's revised tender offer is credit positive in our view, signalling the company's strong willingness to pay and management’s confidence of addressing maturities. We also note positively that the company did not take advantage of the situation by offering to buy back the notes at a discount. We believe the situation is not as bad as the longer-dated FOSUNI ​offshore notes would suggest, with the domestic notes all trading at 99+.

We recommend to accept the tender offer. 

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