Sunac China did not make a $29.5mn dollar bond coupon payment on it 7.25% 2023s on May 11, 2022. The developer said that access to new funding was, and continues to be difficult. This has been worsened in recent times by China’s Covid19 outbreak which has further dented the industry sales. Sunac has appointed legal and financial advisers to help assess its capital structure and liquidity.
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