Sunac China Secures Support from a Significant Portion of Bondholders for Restructuring

According to information from a directly knowledgeable source on the subject, Chinese property developer Sunac China has received sufficient support from the holders of seven of its ten bonds to reduce onshore bond debt by more than half through restructuring. To implement the debt restructuring, Sunac China needs the approval of all holders of its ten bonds, worth a total of 15.4 billion yuan. Sunac will extend the voting period for the remaining bonds for the third time until January 3.