Holders of four more Sunac China bonds back restructuring, source says

Sunac China Holdings

24/12/2024 10:36

HONG KONG, Dec 24 (Reuters) - Holders of six of the ten
bonds issued by Sunac China  1918.HK  have approved a
restructuring plan to cut its onshore bond debt by more than
half, a source with direct knowledge of the matter said on
Tuesday.
    Sufficient holders of four more bonds backed the plan by
Monday's extended voting deadline, the person said, in addition
to the holders of two other bonds earlier this month.
    The property developer is restructuring a total of ten
onshore bonds worth 15.4 billion yuan ($2.11 billion). It will
delay the voting deadline for the remaining four bonds until
Dec. 27, the person said.
    Sunac declined to comment.

 (Reporting by Clare Jim; Editing by Kirsten Donovan)
 ((Ethan.Wang@thomsonreuters.com;))