Sunac China: Majority of holders accede to debt restructuring

Sunac China Holdings Limited (HKEX:1918) has announced a significant step forward in its offshore debt restructuring efforts. As of May 23, 2025, the early consent deadline, holders representing approximately 82% of the aggregate outstanding principal amount of its offshore USD-denominated notes, convertible bonds, and mandatory convertible bonds (the "Existing Securities") submitted letters to accede to the restructuring support agreement (RSA). In aggregate, holders representing approximately 64% of the aggregate outstanding principal amount of the Existing Debt (including the aforementioned Existing Securities) have submitted letters to accede to the RSA. The company noted that some creditors are still in the process of completing the necessary procedures to join the RSA. Sunac China reminds creditors of the upcoming base consent fee deadline of June 6, 2025, and encourages remaining creditors to review and accede to the RSA. The company will provide further updates on the debt restructuring as needed.