Chinese developer Sunac wins court approval for offshore debt restructuring

Chinese developer Sunac wins court approval for offshore debt restructuring

Sunac China Holdings Ltd logo is seen during an exhibition in Hangzhou, Zhejiang province, China, May 25, 2015. China Daily/via REUTERS

Creditors of Sunac China Holdings Ltd have approved its $9 billion offshore debt restructuring plan, the company said on Monday, marking the first approval of such debt overhaul by a major Chinese property developer.