Sunac China Holdings (HK:1918) has released an update.
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Sunac China Holdings Limited has advanced in its debt restructuring process with the second conversion of mandatory convertible bonds (MCB), converting USD 128,426,127 principal amount of MCB during the second period, representing about 15.18% of the post-first conversion amount. Additionally, the Controlling Shareholder Bond saw a corresponding conversion, maintaining proportionality with the MCB conversion rate. The company’s actions have reduced the outstanding MCB principal to USD 717,637,751 and the Controlling Shareholder Bond to USD 138,446,927.
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