Core Viewpoint - Sunac China Holdings Limited has received overwhelming support for its offshore debt restructuring plan, with 98.5% of creditors voting in favor, indicating strong confidence in the company's recovery [1][2]. Group 1: Debt Restructuring Progress - A total of 1,492 creditors participated in the vote, with 1,469 supporting the restructuring plan, which corresponds to a debt amount support rate of 94.5% [1]. - The restructuring plan has surpassed the required 75% threshold for court approval, with a hearing scheduled for November 5 by the Hong Kong High Court [1]. - The successful restructuring could position Sunac as the first large real estate company to effectively clear its offshore debt, potentially influencing the industry significantly [2]. Group 2: Industry Context and Trends - Since the third quarter of this year, approximately 15 real estate companies have reported progress in their debt restructuring efforts, including CIFI Group and Kaisa Group [1]. - The market has seen a shift in creditor attitudes, with many preferring restructuring over bankruptcy due to the prolonged market adjustments and the challenges of debt repayment [2]. - Analysts note that while favorable policies have emerged to alleviate liquidity pressures for real estate companies, financing remains concentrated among leading firms, necessitating faster policy implementation and market-driven debt restructuring for distressed companies [2].
融创境外债重组获高票通过，下月将迎法院裁决