Market Chatter: China's Sunac, Logan Finalizing Debt Restructuring Plans

MT Newswires Live09-11

Chinese developers Sunac China Holdings (HKG:1918) and Logan Group (HKG:3380) are in the final stages of restructuring their local bond and loan debt, Bloomberg News reported Monday, citing people familiar with the matter.

Both companies are reportedly considering similar strategies, including extending maturities and taking on additional debt to retire existing obligations. Sunac is expected to unveil its detailed restructuring plan as early as December.

While these financially troubled developers have primarily focused on addressing their international debts, this marks a significant shift toward addressing their local debt obligations, according to the report.

If approved, these plans could provide much-needed relief for both companies, Bloomberg said.

Sunac China and Logan Group did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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