Sunac China (HKG:1918) introduced Wuhu Great Wall Real Estate Risky Assets Revitalization Investment Center as a new investor for its joint Chongqing Bay project in China, a Thursday, Jan. 23 bourse filing said.
The investor has agreed to make a capital contribution of up to 2.48 billion yuan to the mixed-use project through a limited partnership, Wuhu Changzhen Investment Center, to help with debt restructuring and revitalization.
Of the 2.48 billion yuan investment, up to 1.33 billion is supposed to be used for the development and construction of the said project while up to 1.15 billion yuan will be used to purchase the intermediate limited partnership interest held by CITIC Trust.
The two main creditors of the project company are China CITIC Financial Asset Management (HKG:2799) and CITIC Trust.
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