Sunac unit's 10 onshore bonds restructuring approved

Sunac China (1918) said the restructuring plans of 10 onshore bonds issued by its key subsidiary have been approved by bondholders.

The unit, Sunac Real Estate, will then adjust the repayment arrangements regarding the principal and interest of the bonds and will provide bondholders with restructuring plan options including bond repurchase, i.e. cash tender offer, payment via equity, equity economic income right, and debt settlement with assets, according to a filing. 

The wholly-owned subsidiary will involve bondholders in selecting and distributing restructuring plan options based on their bond holdings, as per meeting resolutions, the filing said.