THE WIRE – Property developer Sunac China to hold investor meeting to add new put option for $633 million bond
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THE WIRE – Property developer Sunac China to hold investor meeting to add new put option for $633 million bond
STOCKS

THE WIRE – Property developer Sunac China to hold investor meeting to add new put option for $633 million bond

 

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Property developer Sunac China said on Thursday it will hold a meeting next week with investors to approve an additional sell back date next year for a 4 billion yuan ($633.08 million) puttable bond.

Sunac proposed to give investors the option to sell back the onshore bond due 2024 next year, on top of the existing option to sell back this year on April 1, it said in a filing. The voting will take place on March 8-9. If approved, Sunac would also have the extra option next year to adjust the coupon rate of the bond.

In a separate filing, the developer said its operation has been normal and there is no significant change in its repayment capability.

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