Sino-Ocean Gets Creditor Approval to Extend Two Yuan Bonds

Chinese developer Sino-Ocean Group Holding Ltd.’s local unit won bondholder approval to extend two of its onshore bonds, according to people with knowledge of the matter.

Extension proposals for a 4% yuan bond due 2024 and a 4.76% yuan bond due 2025 have been passed, said the people, who requested anonymity discussing private matters. Sino-Ocean didn’t comment when reached by Bloomberg News.

Sino-Ocean earlier this month proposed to extend the two bonds by no more than 30 months, and convened bondholder meetings to vote on the proposals, according to filings.

Read more: Sino-Ocean Meets Key Creditor Group for First ...