{"id":1659270,"date":"2022-09-27T01:52:28","date_gmt":"2022-09-27T05:52:28","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1659270"},"modified":"2022-09-27T01:52:36","modified_gmt":"2022-09-27T05:52:36","slug":"developer-sunac-china-seeks-to-extend-payment-for-4-billion-yuan-bond-for-the-3rd-time-sources","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/developer-sunac-china-seeks-to-extend-payment-for-4-billion-yuan-bond-for-the-3rd-time-sources\/","title":{"rendered":"Developer Sunac China seeks to extend payment for 4 billion yuan bond for the 3rd time-sources"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdeveloper-sunac-china-seeks-to-extend-payment-for-4-billion-yuan-bond-for-the-3rd-time-sources%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1659270&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>SHANGHAI (Reuters) \u2013     Struggling Chinese property developer Sunac China is seeking to extend the repayment for a 4 billion yuan ($558.35 million) bond for the third time by pushing out the deadline by another 6 months, two sources with knowledge said on Tuesday.<\/p>\n<p>After the adjustments, Sunac will not pay the two remaining amortization payments scheduled for this year, and the last instalment will be delayed to March 31, 2024 from Sept 30, 2023, the sources said.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Sunac declined to comment.<\/p>\n<p>The Beijing-based developer is struggling to repay its creditors and it is undergoing an offshore debt restructuring after defaulting some dollar bonds this year.<\/p>\n<p>The payment extension for the onshore bond in question will require bondholders approval, the sources said. <\/p>\n<p>The bond matures on April 1, 2024, but investors had a put option to sell back to the company on April 1 this year.    <\/p>\n<p>In April, Sunac extended the principal payment by 18 months, and then in June reduced amortization payments due in June and September. <\/p>\n<p>($1 = 7.1640 Chinese yuan renminbi)<\/p>\n<p> (Reporting by Steven Bian in Shanghai, Shuyan Wang in Beijing and Clare Jim in Hong Kong; Editing by Kim Coghill)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/developer-sunac-china-seeks\/attachment\/advertisement-of-sunac-china-holdings-is-seen-at-a-residential\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8Q05G-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8Q05G-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SHANGHAI (Reuters) \u2013 Struggling Chinese property developer Sunac China is seeking to extend the repayment for a 4 billion yuan ($558.35 million) bond for the third time by pushing out<\/p>\n","protected":false},"author":66,"featured_media":1889246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1659270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/developer-sunac-china-seeks\/?utm_source=rss&utm_medium=rss&utm_campaign=developer-sunac-china-seeks","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1659270"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889246"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1659270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1659270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1659270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}