Kaisa shares surge in Hong Kong as majority of creditors support debt restructuring plan

Quick Summary:

Investors holding more than 75 per cent of its defaulted debts have agreed to support its restructuring terms, filing shows.

Kaisa had also defaulted in 2015, when it became the first Chinese developer to renege on offshore dollar bonds.

Kaisa’s Future City project in Shanghai on August.8, 2024.

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Article Details

Author / Journalist: Cheryl Arcibal

Category: Business

Markets: Hong KongChina

Topics: Bonds Billion Hong Creditors Group Debt Kaisa Chinese Cent Developer Kong

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-17 @ 16:08:26 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 232 words

Reading Time: 2 minutes read

Sentences: 9 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22563823

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