Kaisa Bondholders Reject Offer; R&F Bonds Fall as Repayment Looms
Kaisa Group in an exchange filing said it is exploring alternative solutions after bondholders rejected its debt swap to extend the maturity of its $400mn 6.5% bonds due December 7, 2021. For the debt swap to be accepted, Kaisa required a 95% approval rate. While it...
Yango to Issue $669.9mn of New Bonds As Part of Bond Swap
Chinese real estate developer Yango Group announced via an exchange filing late last week that it will be issuing new bonds worth $669.9mn as part of its bond swap launched a few weeks ago. The new bonds that carry a coupon of 10.25% and mature on 15 September 2022...
Yango Group Receives Bondholders’ Support on Maturity Extension
Chinese developer Yango Group won support from bondholders on extending the maturity of its US dollar bonds to avoid a default. Yango received an acceptance rate of 87.66%, 92.41% and 87.98% for its 5.3% 2022s, 10.25% 2022s and 10% 2023s, respectively, above the...
