Sunac China Updates On Debt Restructuring And Business Development
Sunac China Holdings Ltd 
1918:
UPDATE ON DEBT RESTRUCTURING AND BUSINESS DEVELOPMENT
ENGAGING WITH CERTAIN HOLDERS OF SENIOR NOTES & OTHER OFFSHORE DEBTS WITH AGGREGATE PRINCIPAL AMOUNT OF APPROXIMATELY US$9.1 BILLION
AD HOC GROUP CREDITORS COLLECTIVELY HOLD OR CONTROL MORE THAN 30% IN AGGREGATE PRINCIPAL AMOUNT OF EXISTING DEBTS
PARTIES HAVE ALSO MADE SIGNIFICANT PROGRESS IN FORMULATING A RESTRUCTURING FRAMEWORK
MANAGEMENT IS FULLY COMMITTED TO OFFSHORE RESTRUCTURING
PLANS TO DEAL WITH CERTAIN OFFSHORE CREDITORS WITH ONSHORE & OFFSHORE ASSETS AS CREDIT ENHANCEMENT PRE-RESTRUCTURING, ON BILATERAL BASIS
PROPOSES DELEVERAGING PLAN WHICH CONTEMPLATES CONVERTING US$3-4 BILLION OF DEBTS & LOANS INTO ORDINARY SHARES OR EQUITY-LINKED INSTRUMENTS
IS EXPLORING DIFFERENT STRUCTURES WITH AD HOC GROUP CREDITORS TO ACHIEVE TARGET DELEVERAGING
PROPOSES USING NET PROCEEDS (IF ANY) FROM DISPOSAL OF CERTAIN ASSETS AS AN ADDITIONAL SOURCE OF FUNDING FOR REPAYMENT OF NEW NOTES
PROPOSES EXCHANGING RESIDUAL EXISTING DEBTS INTO NEW USD DENOMINATED PUBLIC NOTES WITH MATURITIES RANGING FROM 2-8 YEARS
LIQUIDITY OF GROUP'S PROPERTY DEVELOPMENT SECTOR IS CONSTRAINED
TRADING IN SHARES OF COMPANY WILL REMAIN SUSPENDED UNTIL FURTHER NOTICE
TOTAL CASH FLOW GENERATED FROM DEVELOPMENT PROJECTS OVER NEXT 7 YEARS OR SO IS EXPECTED TO BE ABOUT RMB320 BILLION
MAY CONSIDER GRADUALLY DISPOSING OF PART OF ITS ASSETS OVER NEXT SEVEN YEARS OR MORE, SEEN TO INCREASE OVERALL LIQUIDITY BY RMB60 BILLION