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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.


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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