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Sunac China seeks two-year extension on $627m bond

Move follows rating downgrades and troubles at other developers

Sunac China has $2.6 billion of domestic and offshore debt due in 2022, mainly between April and September.   © Reuters

Sunac China, the country's third-largest developer, is seeking a two-year payment extension on a 4 billion yuan ($627 million) onshore bond due April 1, Caixin learned from several bondholders. In return, Sunac's billionaire Chairman Sun Hongbin proposes to provide an unlimited joint liability guarantee.

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