Summary by Moomoo AI
Sunac China announced on September 30, 2024 that, according to the contract dated November 20, 2023, the company chose to pay the interest on the senior notes due from 2025 to 2030 in kind. On the interest payment date of March 30, 2024, the company did not pay cash interest, but accumulated in-kind interest resulting in the increase of outstanding principal. The outstanding principal of the 2025 notes increased from 0.507 billion US dollars to 0.522 billion US dollars, the 2026 notes from 0.508 billion US dollars to 0.524 billion US dollars, the 2027 notes from 1.017 billion US dollars to 1.05 billion US dollars, the 2028 notes from 1.527 billion US dollars to 1.578 billion US dollars, the 2029 notes from 1.528 billion US dollars to 1.582 billion US dollars, and the 2030 notes from 0.719 billion US dollars to 0.745 billion US dollars. Sunac China's Chairman Sun Hongbin stated that this action is to comply with listing rules and provide transparency to investors.