Chinese developer Sino-Ocean expects to generate $2.8 billion cash to repay offshore debt

Quick Summary:

Chinese property developer Sino-Ocean Group said on Tuesday its restructuring plan was being implemented in an orderly manner and it expects to generate $2.8 billion in cash over the next decade to repay its new financing instruments.

FILE PHOTO: Residential buildings are pictured in Shanghai, China September 29, 2024.

Sino-Ocean had faced a winding-up petition filed by the Bank of New York Mellon in a Hong Kong court in late June, the hearing for which has been currently adjourned to Dec.23.

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Category: EconomyBusiness

Markets: SingaporeChinaHong Kong

Topics: Mediacorp Repay Debt Billion Generate Developer Experience Sino-ocean Expects 2024 Chinese

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-15 @ 08:20:51 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 200 words

Reading Time: 2 minutes read

Sentences: 10 lines

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Copyright Owner: © Channel News Asia

News ID: 23067508

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