Sunac shares surge 21% as Chinese property developer says it's met restructuring conditions

A booth of Sunac China is seen at a housing fair in China, May 16, 2014. Developer Sunac China missed the deadline for coupon payments on a $742 million offshore bond and said on Thursday it doesn't expect to make payments coming due on other bonds, adding to a wave of defaults in China's debt-laden property sector.
Shares of Sunac surged on Tuesday after the beleaguered…

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