Kaisa Group 1638

[behappyalways]

Kaisa Said Unable to Repay Trust as Third Party Steps In
http://www.bloomberg.com/news/2015-01-2 ... ps-in.html

[winston]

Kaisa bonds rallying

Bonds of struggling property company Kaisa Group (1638) rallied sharply yesterday on hopes it may be rescued through a capital injection from rival firms, after it had missed payment deadlines on a bank loan and bond coupon.

Bloomberg reported yesterday that Shenzhen officials were speaking to various developers about investing in Kaisa, whose offshore US dollar bonds were trading in the 44/48 cents (HK$3.43/ HK$3.74) in the dollar range in thin trade in the late afternoon, up from the morning's 36/39. Its shares are halted.

Kaisa missed an interest payment on the 2020 bonds this month, and now has a 30-day grace period to pay up or else become the first mainland developer to default on its foreign debt.

The firm is struggling after a string of senior executives left unexpectedly, and government officials blocked sales at some of its projects in Shenzhen.

Source: REUTERS

[winston]

Kaisa bonds rally on talk of rival helping*Overset by 10.*

Chinese developer Kaisa Group (1638) saw its bond price bounce yesterday on optimism that Sunac China Holdings (1918) might take a stake in the embattled real estate firm.

Kaisa failed this month to make a US$26 million (HK$202.8 million) interest payment on its bonds due to mature in 2020.

It is now in a grace period, and has until February 9 to pay that coupon, lest it becomes the first Chinese real estate firm to default on its offshore debt.

Last week a source said a number of developers have approached Kaisa about possibly buying some of its holdings.

The chatter resumed yesterday after financial news website Tencent Finance reported that Sunac which last month terminated a deal to acquire a majority stake in developer Greentown China Holdings (3900) is in talks to buy part of Kaisa.

The report said that Sunac carried out due diligence on Kaisa over the weekend.

Neither Sunac or Kaisa officials were available to comment on the report.


Source: REUTERS

[behappyalways]

Kaisa Funding Crunch Seen Easing on Sunac $380 Million Deal
http://www.bloomberg.com/news/articles/ ... n-purchase

[winston]

KAISA GROUP (01638.HK) pays interest on bonds due 2020

KAISA GROUP (01638.HK) 0.000 (0.000%) has paid the interest on the bonds due 2020, involving approximately US$26 million, Reuters reported.

Source: AAStocks Financial News

[behappyalways]

Troubled Kaisa Forecasts ‘Substantial’ Decline in 2014 Profit
http://www.bloomberg.com/news/articles/ ... 014-profit


Kaisa Bonds Slip Further Into Distress as Shares Halted
http://www.bloomberg.com/news/articles/ ... res-halted

[behappyalways]

Troubled China developer Kaisa unveils offshore debt restructuring
http://www.cnbc.com/id/102486763

[behappyalways]

What a Default on Kaisa’s Dollar Debt Could Mean for Creditors
http://www.bloomberg.com/news/articles/ ... -creditors

[behappyalways]

Kaisa Bonds Fall After Developer Defaults on its Dollar Debt
http://www.bloomberg.com/news/articles/ ... ollar-debt

[behappyalways]

Origins of Kaisa Default in China Sought in Accounting Footnotes
http://www.bloomberg.com/news/articles/ ... s-i9bv09mr