BRIEF: Sino-Ocean’s liabilities exceed 180 billion yuan

Real estate developer Sino-Ocean Group Holding Ltd. (3377.HK) said on Tuesday its total indebtedness stood at 181.4 billion yuan ($25.5 billion) at the end of June, including 139.6 billion yuan in current liabilities and 41.7 billion yuan in non-current liabilities.

The company said its offshore financial liabilities subject to restructuring, or its existing debt instruments, had an aggregate outstanding principal amount of about $5.64 billion midway through the year.

The company said it has additional offshore debt not included in that total involving creditors benefitting from different security packages, collateral and guarantees. It added it will conduct separate negotiations with those creditors on such debt.

By Lau Chi Hang

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