Deals
Kaisa Bonds Slip Further Into Distress, Shares Halted
This article is for subscribers only.
Kaisa Group Holdings Ltd.’s dollar bonds slipped further into distressed territory as the trouble developer halted trade in its shares, pending the release of inside information.
The company’s $800 million of 8.875 percent notes due 2018 fell 0.8 cents to 60.6 cents on the dollar as of 12:02 p.m. in Hong Kong, yielding 29 percent, according to prices compiled by Bloomberg. Its 10.25 percent 2020 debentures dropped 0.9 cents to 60.9 cents, to yield 24.4 percent.