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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.