Embattled property developer Sunac China Holdings Ltd said on Thursday that about 85 per cent of its existing bondholders had agreed to a proposal on debt restructuring.
Sunac reached an agreement with a group of offshore creditors in March to restructure $9 billion of its debt, under which a part of its debt would be exchanged into convertible bonds backed by its Hong Kong-listed shares along with new notes with maturities of between two and nine years.
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