Sunac’s Second Debt Restructuring Signals Prolonged Property Slump
融创再次重组债务，反映房地产市场持续低迷
Sunac, one of China’s largest property developers, has announced a second offshore debt restructuring, highlighting the prolonged real estate downturn. Its first restructuring of about $10bn in late 2023 had raised recovery hopes. However, Sunac recently warned of difficulties in making offshore payments and now faces a winding-up petition from Cinda Asset Management’s Hong Kong arm, one of China’s four state-owned “bad banks.”
融创，中国最大的房地产开发商之一，宣布进行第二次离岸债务重组，显示中国房地产市场低迷持续超出预期。Sunac在2023年底首次重组了约100亿美元的债务，曾让市场对复苏产生希望。但近期，融创表示难以支付离岸债务，并面临来自中国“四大坏账银行”之一——信达资产管理香港分行的新清盘申请，突显房地产行业的现金紧缩问题依然严峻。
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