Deals
Kaisa Faces $5.7 Billion of Payments Amid Debt Restructuring
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Kaisa Group Holdings Ltd. is seeking to expedite a debt restructuring as the troubled developer said it faces as much as 35.5 billion yuan ($5.7 billion) of repayments to creditors this year.
An initial meeting with onshore lenders has been scheduled for today, Kaisa, which is being acquired by Sunac China Holdings Ltd., said in a Hong Kong exchange filing on Monday. Kaisa said it’s aiming to reach an agreement with its offshore creditors by the end of March and expects to complete the restructuring the following month.