Deals
Kaisa Bonds Slide After Builder Says Debt Tweaks Needed
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Kaisa Group Holdings Ltd., the Chinese developer embroiled in an anti-graft probe, sent prices on its bonds sliding after saying it expects it will need to change its international debt obligations.
Its $500 million of bonds due in 2020 dropped 6 cents on the dollar to 62.8 cents as of 1:54 p.m. in Hong Kong, the lowest since Feb. 3, according to prices compiled by Bloomberg. That’s down from a high of 75.5 last week, when Sunac China Holdings Ltd. said it had bought a 49.3 percent stake in the builder.