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Sunac China Holdings China Limited - Debt Restructuring - Scheme

Updated: Mar 29, 2023

SIGNIFICANT PROGRESS OF OFFSHORE DEBT RESTRUCTURING (1) ENTRY INTO RSA WITH AHG; AND (2) INVITING OTHER CREDITORS TO ACCEDE TO RSA


28 MARCH 2023


Full announcement including disclaimers and offer restrictions available via SGX


"References are made to the announcements issued by the Company on the Stock Exchange dated 12 May 2022, 4 July 2022, 8 September 2022, 15 September 2022 and 9 December 2022 concerning, among other things, the status of certain offshore debts of the Company.


UPDATE ON THE OFFSHORE DEBT RESTRUCTURING


The Group would like to provide an update to the market on the significant progress made regarding the restructuring of its offshore debt.

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Significant Progress of the Restructuring


Over the past few months, the Company and members of the AHG, together with their respective advisors, have been engaged in constructive dialogue towards a consensual restructuring of the Company’s offshore indebtedness.


The Company is pleased to announce that on 28 March 2023, it reached agreement with the AHG representing over 30% of the aggregate outstanding principal amount of the Existing Debt on the terms of the Restructuring, which are memorialized in the RSA.


The contemplated Restructuring is intended to (i) provide the Company with a long-term, sustainable capital structure; (ii) allow adequate financial flexibility and sufficient runway to stabilize the business; and (iii) protect the

rights and interests, and maximize value, for all stakeholders. Broad-based support is required to facilitate a successful Restructuring, and the Company sincerely asks all holders of the Existing Debt who have not signed the

RSA to accede to the RSA as soon as possible."


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