Kaisa’s dollar bonds rallied over news of it entering into a strategic co-operation agreement with China Merchants Shekou Industrial Zone and Great Wall Asset Management Co. The move is expected to help alleviate Kaisa’s short-term liquidity troubles.
Separately, Powerlong Real Estate said that it remitted the funds to pay the remaining principal and interest on its maturing $190mn 3.9% dollar bond due April 13.
