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Sunac China’s AMCs Talks, Funds Seen In Place For April Bond

The developer reportedly has funds to pay an onshore bond debt worth 4 billion yuan ($634.25 million) due on April 1

Sunac China
Hong Kong-listed shares of Sunac, China's No. 3 property developer by sales, jumped more than 21% on Wednesday afternoon. Photo: Reuters.


Property developer Sunac China is in talks with four major Chinese asset managers including Cinda on project cooperations, a person with knowledge of the matter said on Monday.

Each cooperation could be worth ten of billions yuan, the person added.

The company also has funds to pay an onshore puttable bond worth 4 billion yuan ($634.25 million) due April 1, the source said.

Shares of Sunac dropped 16.3% on Monday, compared with a 1.5% fall in the Hang Seng Mainland Properties Index.

Sunac did not immediately respond to request for comment.


• Reuters with additional editing by Jim Pollard



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