Embattled property developer Sunac China Holdings Ltd said on Thursday that about 85 per cent of its existing bondholders had agreed to a proposal on debt restructuring. The company had met the minimum requirement for the proposal in late April, after creditors holding about 75 per cent of its existing de
Embattled property developer Sunac China Holdings Ltd said on Thursday that about 85 per cent of its existing bondholders had agreed to a proposal on debt restructuring.
Sunac reached an agreement with a group of offshore creditors in March to restructure $9 billion of its debt, under which a part of its debt would be exchanged into convertible bonds backed by its Hong Kong-listed shares along with new notes with maturities of between two and nine years.
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