China’s No.3 homebuilder Sunac China sees debt woes deepen, seeks two-year extension on 4 billion yuan bond
China’s No.3 homebuilder Sunac China sees debt woes deepen, seeks two-year extension on 4 billion yuan bond

China’s No.3 homebuilder Sunac China sees debt woes deepen, seeks two-year extension on 4 billion yuan bond

 

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Sunac China, the country’s third-largest developer by sales, is seeking a two-year payment extension on a 4 billion yuan ($627.85 million) onshore bond due April 1, according to multiple bondholders.

The news was first reported by Chinese media outlets including The Paper and Caixin.

Sunac’s chairman Sun Hongbin proposes to provide an unlimited joint liability guarantee and the company will also use a cultural and tourism project in Zhengzhou, capital of central China's Henan province, as pledged collateral, according to the reports.

Earlier this week, the homebuilder . . .

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