Deals
Kaisa Investors Wary on Bond Coupon Payments Next Month
This article is for subscribers only.
Offshore bond investors of Kaisa Group Holdings Ltd. are becoming increasingly concerned about the risk the troubled Chinese developer embroiled in an anti-graft investigation could miss coupon payments next month.
Kaisa must pay $16.1 million of interest March 18 on its $250 million of bonds due 2017, and $35.5 million March 19 on its $800 million securities due 2018, Bloomberg-compiled data show. It avoided a default last Friday by making an interest payment of $23 million on its 2020 notes before the grace period deadline.