Company News
On June 6, Sunac China Holdings Co., Ltd. announced the latest progress in its overseas debt restructuring and announced the extension of the deadline for the basic consent fee.
Rongcom China pointed out in its announcement that about 83% of existing securities holders have submitted letters to join the restructuring support agreement, and about 74% of the total outstanding principal amount have submitted letters to join the restructuring support agreement.
At the same time, Sunac China extended the deadline for the basic consent fee from the original scheduled 5:00 pm Hong Kong time on June 6, 2025 to 5:00 pm Hong Kong time on June 20, 2025, so as to give creditors more time to consider and join the restructuring support agreement.
The basic consent fee will be paid to the consent creditor who effectively holds qualified restricted debts before the extended basic consent fee deadline, which is equivalent to 0.5% of the total principal of the qualified restricted debts held by the consent creditor before the extended basic consent fee deadline, and will be paid at face value in the form of a new mandatory convertible bond 1.
