News

Commercial Property

Staff Reporter

, Hong Kong

Published:

2 days ago

Photo by Nicola Barts from Pexels

Sunac China restructures offshore debt amidst market headwinds

It has appointed Houlihan Lokey Limited and Sidley Austin as financial and legal advisors.

Sunac China has commenced its offshore debt restructuring work, stating that current market conditions are below expectations before its first offshore debt restructuring plan.

It has appointed Houlihan Lokey Limited and Sidley Austin as its financial and legal advisors, respectively, in addressing its current offshore debt risks.

Sunac China said the restructuring may prompt other creditors to demand faster payment of relevant indebtedness owed to them or to pursue enforcement action.

The company expects that it will not be able to meet other offshore payment obligations when due or within the relevant grace periods.

The group calls for patience to allow the company time to assess the current situation and work towards a solution that is in the best interest of all stakeholders.

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