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Sustaining Default: Sunshine 100 China Struggles with Repayment of Outstanding Notes

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Sustaining Default: Sunshine 100 China Struggles with Repayment of Outstanding Notes

Sunshine 100 China, a real estate company, has announced on the Hong Kong Stock Exchange that it is facing liquidity problems and will be unable to repay the outstanding principal and interest on its senior notes. The 12.0% senior notes due in 2023 were issued by the company and listed on the Singapore Exchange Limited.

The company cited various factors such as the macroeconomic environment and the real estate industry as the causes of its financial difficulties. As a result, an event of default has occurred. The aggregate principal amount outstanding on the notes is US$120 million, with an additional accrual of unpaid interest amounting to US$38.4 million.

Sunshine 100 China has been actively engaging with the holders of these notes to negotiate a repayment extension or alternative arrangements. The company aims to resolve the situation as quickly as possible.

It is important to note that the content of this article is sourced from the Financial Associated Press and does not reflect the views or position of this site. This information should not be considered as investment advice, and individuals should proceed at their own risk.

[Source: Financial Associated Press]

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