Sunac's partial bond buyback stirs up positive sentiment
Sunac China Holdings made an opportunistic buyback of some of its outstanding dollar bonds on Thursday, in a move that bankers said can add some liquidity into the debt market while instilling confidence in the real estate company’s cash reserves.
The Chinese property developer repurchased and cancelled $78.6m of its notes set to mature this year, according to a filing on the Hong Kong Stock Exchange. The original $750m 8.625% 2020 notes and the $400m 6.875% 2020 paper were sold in July and November 2018 and August 2017,
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