Sunac Holders Approve Local Bond Extension; Zhongliang Tender Offer Results Out
Zhongliang Holdings completed an exchange offer for portions of its 8.5% bonds due May 2022 and 9.5% bonds due 2022. This was its second exchange offer after the developer in mid-May, completed an exchange offer for $262.17mn, or 90.47% of the May 2022s and...
Sunac Seeks Local Bond Payment Extension Over Two Years
Chinese property developer Sunac has sought an extension of two years to repay its RMB 2.3bn ($345mn) bond due on 13 June as per sources. The company plans to pay only the interest component on the maturity date while the principal component of $345mn will be paid in...
Sunac Pays Local Bondholders after Dollar Bond Default; Downgraded to Ca by Moody’s
Sunac China made payments on a local bond, just a day after announcing a default on its dollar bond. Sources said that the developer sent initial planned payment to investors via the a trustee, under an 18-month extension agreed to by the bondholders. The bond in...
