HK Stock Market Move | SUNAC (01918) opens more than 6% higher, the domestic debt restructuring plan has been approved by relevant creditors.

SUNAC (01918) opens up more than 6%, as of press time, up 6.63%, trading at 1.77 Hong Kong dollars, with a turnover of 25.2632 million Hong Kong dollars. On the news front, on January 21, SUNAC announced that, as stated in the announcements published on the websites of the Shanghai Stock Exchange and the Shenzhen Stock Exchange from December 2024 to January 2025 by Sunac Real Estate, the restructuring plans for ten bonds of Sunac Real Estate have all been approved by the relevant bondholders' meetings, and adjustments will be made to the repayment arrangements of the ten bonds, providing options such as bond repurchases (cash tender offers), stock and/or stock economic interest redemption, and debt-for-equity swap. Sunac Real Estate will arrange for bondholders to choose and allocate the restructuring options for their bonds in accordance with the provisions of the bondholder meetings. It is reported that the restructuring plans for the ten bonds of Sunac Real Estate have all been approved by the relevant bondholders' meetings, which means that the overall restructuring of 15.4 billion yuan of onshore bonds of Sunac has been declared successful, making it the first real estate company to complete the overall restructuring of onshore corporate bonds. After the debt restructuring plan is implemented, it is expected to reduce Sunac's onshore corporate debt by over 50%, with the remaining debt extending for up to 9.5 years, and no redemption pressure within 5 years.