Kaisa’s Bonds Jump on Reports of Talks with SOEs
Kaisa’s dollar bonds jumped on reports that the developer was in talks with state-owned companies on strategic investment and cooperation, as per Cailian news. No further details were given regarding the talks. Kaisa defaulted on its dollar bonds in December and...
Kaisa Under Pressure to Make a Plan to Pay WMPs
Kaisa Group is being put under pressure to devise a plan to repay investors in its wealth management products (WMPs) according to sources. The sources note that if the company fails to do so, a possible consequence includes the Shenzhen government seizing some of...
Offshore Bondholders of Kaisa Look to Buy Up to $1bn in its China Bad Loans: Sources
A group of Kaisa Group’s offshore bondholders have agreed to buy up to $1bn Kaisa’s bad loans from its onshore creditors, as per two sources. Kaisa is working to restructure its offshore debt after the cross-default, a source told Reuters, adding that the...
