Sunac Says It Can’t Rule Out Second Offshore Debt Overhaul (1)

Defaulted property developer Sunac China Holdings Ltd.said it can’t rule out a second offshore debt restructuring as a prolonged property crisis dims its outlook and it faces another court petition to wind up operations.

The company “doesn’t exclude seeking a more comprehensive holistic offshore debt solution,” given that current market conditions are “significantly below” expectations when it completed its first overhaul in 2023.

The development signals renewed financial stress for the Chinese developer, which first defaulted on a dollar bond in 2022 as the country’s housing crisis escalated. Investors have grown increasingly anxious about upcoming interest payments amid sluggish ...