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Property Giant Sunac Joins List of Chinese Developers That Can’t Pay Offshore Debts
Published on: 2022-05-13
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Developer Sunac China missed the deadline for coupon payments on a $742 million offshore bond and said on Thursday it does not expect to make payments coming due on other bonds, adding to a wave of defaults in China's debt-laden property sector.
 

A source close to the company, the nation's third-largest property developer by sales, said Sunac is considering a restructuring of its offshore debt to extend payments. It is also talking to state-owned entities about strategic investments in the firm.
 

Sunac declined to comment.
 

With $7.7 billion in dollar bonds, Sunac is the fourth-largest issuer among Chinese developers.
 

China's property sector has been hit by a series of defaults on offshore debt obligations, highlighted by China Evergrande Group and Kaisa Group, as well as bond exchanges, with Zhongliang Holdings the latest firm to extend payments.
 

融创正式公告宣布美债违约

5月12日一早,融创中国01918发出公告,承认未能在宽限期内支付四笔美元票据利息,金额合计1.047亿美元。公司已经委任华立安为重组顾问,Sidley Austin为重组法律顾问,评估并着手债务重组事宜。

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