Kaisa, offshore bondholders still negotiating restructuring proposal

By Caroline Salls

Pittsburgh, March 23 – Kaisa Group Holdings Ltd. has not yet reached an agreement with its offshore bondholders regarding an initial restructuring proposal, but negotiations are ongoing, according to a company news release.

Kaisa said a group representing holders of more than 50% of the company’s convertible bonds and existing high-yield notes plans to hire a financial adviser to advise it on Kaisa’s restructuring proposal.

The company said its current liquidity situation requires that the relevant parties quickly agree to the terms of any revised proposal.

Kaisa Group is a Shenzhen, China-based property development company.

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