Sunac China: Domestic debt restructuring plan approved by relevant creditors
Sunac China announced that its domestic debt restructuring plan has been approved by relevant creditors. According to the announcement, the restructuring plan for ten bonds will adjust the principal and interest repayment arrangements, providing options including cash tender offers, stock and/or equity economic benefit rights redemption, among others. Next, Sunac Real Estate will arrange for bondholders to select and allocate options from the restructuring plan
According to the announcement released by Sunac China (01918), as stated in the announcements published on the Shanghai Stock Exchange and Shenzhen Stock Exchange websites by Sunac Real Estate between December 2024 and January 2025, the restructuring plan for ten bonds of Sunac Real Estate has been approved by the relevant bondholders' meetings. The repayment arrangements for the principal and interest of the ten bonds will be adjusted, and restructuring options will be provided, including bond repurchase (i.e., cash tender offer), stock and/or stock economic benefit rights redemption, and debt-for-equity swaps. Sunac Real Estate will next arrange for bondholders to choose and allocate their options in the restructuring plan according to the provisions of the bondholders' meeting resolutions
