by Amruth Sundarkumar | Apr 6, 2022 | China, Distressed / Defaulted Bonds
Kaisa Group said it entered into a strategic co-operation agreement with China Merchants Shekou Industrial Zone and Great Wall Asset Management Co., according to an HKEX filing. The three companies agreed to co-operate in property development, tourism, ferry services...
by Amruth Sundarkumar | Mar 18, 2022 | China, Distressed / Defaulted Bonds
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...
by Amruth Sundarkumar | Jan 10, 2022 | China, Distressed / Defaulted Bonds
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...
by Amruth Sundarkumar | Dec 16, 2021 | China, Distressed / Defaulted Bonds
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...
by Amruth Sundarkumar | Dec 14, 2021 | China, Distressed / Defaulted Bonds
Offshore defaults by Chinese developers have hit $11.8bn YTD after Kaisa and Evergrande missed their bond payments earlier this month. Bloomberg reports that the offshore sum includes 24 USD and 4 EUR-denominated bonds. The year had popular names like Tsinghua...
