HONG KONG—Chinese developer Kaisa Group Holdings Ltd. is unlikely to win bondholders’ approval to extend the maturity of a $400 million bond due next week, analysts say, heaping more pressure on other indebted peers. Kaisa’s proposal to delay the maturity of the bond by 18 months comes against the backdrop of growing creditor concerns about…
China’s Kaisa Struggles for Relief From Bondholders as Default Risk Looms
Teetering Giant Evergrande Paid Some Overdue Interest, Some Say Received Nothing
November 11, 2021
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The world’s most indebted real estate developer made some overdue interest payments just before the Nov. 10 deadline, sources confirmed, while some say they received nothing. Cash-strapped Evergrande has rushed serval last-minute transfers since October, teetering on the brink of default. The Chinese property developer was supposed to make further overdue interest payments of $148…
Evergrande Misses Second Offshore Bond Payment; Some Onshore Investors Get Partial Payment
September 30, 2021
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SHANGHAI/BEIJING/HONG KONG—China Evergrande Group missed paying bond interest due on Wednesday, two bondholders said, its second unpaid offshore debt obligation in a week, although the cash-strapped company on Thursday made a partial payment to some of its onshore investors. The company, reeling under a debt pile of $305 billion, was due on Wednesday to make…
China’s Xi Walks Political Tightrope as Evergrande, Property Market Totters
Commentary Some clarity emerged from the China Evergrande saga as the embattled real estate developer triaged its finances by electing to forego paying offshore bondholders in favor of conserving cash to pay Chinese customers and stakeholders. After weeks of customer protests, credit downgrades, and rumors of default, Evergrande elected to pay onshore bondholders and was…
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