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<CN Home>SUNAC Slips 6%+ on Rumor of Offshore Debt Restructuring to Convert All Bonds to Equity
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SUNAC (01918.HK) saw its share price plunge deepened in the afternoon session today (15th), slipping 6.579% to HKD1.42. Trading volume reached 250 million shares, with a turnover of HKD363 million. Sunac is in discussions with some creditors to convert all its offshore bonds into equity, Bloomberg reported. Creditors could opt to convert mandatory convertible bonds with different conversion periods into shares. If finalized, Sunac would be the first major Chinese property developer to convert all its USD-denominated bonds into equity. However, details, including convertible bond pricing, are still under negotiation and subject to change. AAStocks Financial News |
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