Chinese Dalian Wanda Group intends to extend a credit in amount of $ 29.6 billion yuan ($4.35 billion) to Sunac China Holdings for a period of three years to ensure that the company could pay for the acquisition of 76 hotels from Wanda hotels and a majority stake in 13 other projects for $9.3 billion.
The Wall Street Journal notes that this unusual scheme was not voiced on Monday, when the deal was announced, which became the largest one in the history of Chinese real estate market.
By selling part of the assets, Wanda expects to reduce debt and create more favorable conditions for investors ahead of the upcoming listing.
