Mon 11/21/2022 04:07 AM
Sunac China has provided a preliminary onshore restructuring plan to creditors, proposing to extend matured bonds for 3.75 years until September 2026, and bonds that have yet to mature for 4.5 years to 2027, according to two sources familiar with the matter.
The company plans to begin making quarterly principal payments starting from 2025.
Sunac plans to defer payment of interest accrued during the first extension period, with 50% deferred for six months and another 50% deferred for one...
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