Kaisa Can’t Say If It Plans to Meet Bond Coupon Deadline

Kaisa Group Holdings Ltd., the Chinese developer that defaulted on a loan last week after its chairman departed, can’t say if it plans to meet a bond deadline today as a local news website said lenders took steps to preserve assets.

The builder of residential communities and shopping centers must pay about $26 million in interest on its 10.25 percent 2020 debentures today, according to the prospectus. The developer can’t answer the question of whether it plans to meet the payment, Lin Yikang, in the company’s media and public relations management department, wrote in an e-mailed reply. The notes fell to a record closing low of 29.9 cents on the dollar yesterday and were at 32.1 cents as of 4:08 p.m. in Hong Kong, according to prices compiled by Bloomberg.