Sunac China cuts costs on US$937 million defaulted debt linked to Beijing project

Quick Summary:

Restructuring terms allow the Chinese developer to effectively cut its annual borrowing costs to 4.12 per cent from 9.6 per cent.

This has provided “a complete exit solution” for the trust investors and effectively reduced the debt pressure of the project, providing the project with more solid financial support, Sunac said.

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Article Details

Author / Journalist: Yuke Xie

Category: Business

Markets: Hong KongChina

Topics: Costs Project Yuan China’s Debt Sunac Borrowing Trust Cent China Financial

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-27 @ 13:20:30 (20 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 274 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 25485848

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