Sunac Dollar Bonds Rise Ahead of Deadline: Evergrande Update
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Sunac China Holdings Ltd.’s dollar bonds rose Wednesday afternoon, reversing early declines, ahead of a key deadline for interest payments.
If Sunac, China’s fourth-largest developer by sales, fails to pay up a total of $29.5 million, cross-default on its other offshore debt could result. Two holders of a 7.95% note due 2023 told Bloomberg News they hadn’t received payment as of 12pm Hong Kong time.