Core Viewpoint - Sunac China is progressing with its debt restructuring plan, which includes a significant portion of its offshore debt and aims to stabilize its financial situation and corporate governance [1][2]. Group 1: Debt Restructuring - As of June 24, approximately 75% of the creditors holding the company's outstanding debt have agreed to the restructuring support agreement [1]. - The total estimated debt claim amount, including principal and accrued unpaid interest (excluding default interest), is approximately $9.552 billion, which needs to be reviewed and confirmed by the plan administrator [1]. Group 2: Shareholder and Governance Measures - The company plans to issue mandatory convertible bonds and propose an increase in its statutory capital to maintain a stable shareholding structure and ensure the chairman, Sun Hongbin, can continue to contribute to the group's debt risk resolution and long-term business recovery [1][2]. - Under the shareholding stability plan, for every $100 principal of mandatory convertible bonds allocated to creditors (excluding those belonging to Sunac International), $23 will be issued to Sun Hongbin or his designated persons [2]. Group 3: Team Stability and Compensation - The company aims to implement a team stability plan to ensure a capable team is in place for ongoing operations and long-term recovery, which includes granting shares to selected employees as a long-term supplement to their compensation [2]. - The plan is designed to incentivize recipients to continue contributing to the company's operations and development [2]. Group 4: Capital Increase Proposal - The board of directors recommends seeking shareholder approval at a special meeting to increase the statutory capital from HKD 1.5 billion (divided into 15 billion shares) to HKD 3 billion (divided into 30 billion shares) [3]. - The additional shares will have equal status in all respects [3].
融创启动95.5亿美元债务重组 发行可转债、推股权稳定计划等