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China’s Kaisa offers bondholders option to exchange existing bonds with new bonds

Amnon Free Press/Central Press Syndicate, USA. Read, Enjoy and Share the Latest US News Updates.

November 25, 2021

(Reuters) – Chinese developer Kaisa Group said on Thursday it is offering bondholders an option to exchange their existing bonds with new bonds having an extended maturity, in an attempt to improve its financial stability and continue to stay afloat.

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The embattled property developer is offering exchange for at least $380 million of the outstanding principal of existing notes, it said in a stock exchange filing.

(Reporting by Sameer Manekar in Bengaluru; Editing by Rashmi Aich)

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