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
Chinese Developer Kaisa Unit Misses Payment, Debt Worries Mount
November 5, 2021
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SHENZHEN, China/HONG KONG—Chinese property developer Kaisa Group Holdings Ltd. said on Thursday its finance unit had missed a payment on a wealth management product (WMP), adding to worries about a cash crunch at the debt-strapped company. Kaisa’s troubles come amid concerns about a deepening liquidity crisis in the Chinese property sector, with a string of…
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