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Kaisa Deadline Nears; Chu Has a New Role: Evergrande Update

  • Shares of Evergrande’s listed investments sink in Hong Kong
  • Three firms plan a combined 19 billion yuan of interbank bonds
Kaisa Group Holdings Ltd.'s Future City Development
Photographer: Qilai Shen/Bloomberg
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One of China’s largest issuers of junk dollar debt will announce Thursday whether creditors agreed to a debt swap designed to avert default. 

Kaisa Group Holdings Ltd., which became the first Chinese developer to default on such bonds in 2015, is trying to stave off another collapse that could come as soon as next week. The company’s offer to exchange its $400 million of dollar notes maturing Dec. 7 for new ones due 18 months later expires at 4 p.m. London time.